The Appellate Tribunal permitted the appellant to withdraw an appeal after a settlement was reached with the first respondent/bank under an One Time Settlement (OTS) scheme, and dismissed the appeal as withdrawn.
Applicant permitted to withdraw appeal; appeal dismissed as withdrawn.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 14th day of October 2025
PRESENT : HON’BLE MR. JUSTICE G. CHANDRASEKHARAN
CHAIRPERSON
MA (SA) 25/2023
(Arising out of IA 611/2022 in O.A.No.439/2019
On the file of DRT-I, Chennai)
Between
GTL Infrastructure Ltd., Having its Registered Office at 3d Floor, "Global Vision", Electronic Sadan No II, MIDC TTC Industrial Area, Mahape, Navi Mumbai-400710, And Corporate Office at 412, Janmabhoomi Chambers, 29, Walchand Hirachand Marg, Ballard Estate, Mumbai-400038 through its Authorized Representative … Appellant
And
and through its Prime Corporate Branch -BKC, Canara Bank Building, 1 Floor, A Wing, C-14, G-Block, Bandra Kurla Complex, Mumbai-400051, through its authorized Officer Shri. Amrit Ghosh, Assistant General Manager
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a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1980 and having its Head Office at P.B.No.88. Mangladevi Temple Road, Mangalore 575 001, in the state of Karnataka, India and having its Industrial Finance Branch at Bharat House, Bombay Samachar Marg Fort, Mumbai 400023 through its Authorized Representative
5. IDBI Bank
Having its Head Office at Large Corporate Branch at IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005 through its Authorized Representative
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Counsel for Appellant : M/s. Aparajitha Viswanath Counsel for Respondent-1 : M/s T. Ravichandran Counsel for Respondent-5 : M/s. Ramalingam & Associates
ORDER
When the matter is taken up, learned counsel for the appellant submitted that the appellant had settled the dispute with the first respondent/Bank under OTS and seeks permission to withdraw this
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appeal in view of the settlement under OTS and memo filed seeking
permission for withdrawal of this appeal.
Appellant is permitted to withdraw this appeal and in view of the
memo filed, this appeal is dismissed as withdrawn .
Parties are directed to bear their own costs.
Pending IAs, if any, shall stand closed.
Sd/(JUSTICE G. CHANDRASEKHARAN) CHAIRPERSON
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GTL Infrastructure Ltd.
CANARA BANK
G. CHANDRASEKHARAN
As recorded by the court registry
7 orders share this CNR
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