The Debts Recovery Appellate Tribunal dismissed an application seeking liberty to file a withdrawn appeal. While denying the liberty to refile, the tribunal allowed the withdrawal of Appeal No.32/2024 and directed transfer of the sum to the respondent.
Transfer of Rs.11,26,71,324/- along with interest accrued to Respondent No.2.
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DEBTS RECOVERY APPELLATE TRIBUNAL AT MUMBAI
(SITTING AT CHENNAI)
.IA 660/2025 in Regular Appeal No. 32/2024
11.11.2025
This Application is filed for withdrawal of Appeal No.32/2024 with liberty to file the same again if needed and direct this Tribunal to transfer/allow Respondent No.2 to withdraw an amount of Rs.11,26,71,324/-.
It is seen from the Application that the Petitioner entered into a settlement with R2 with regard to six loan accounts. One loan form part of the present Appeal. In the said circumstances, it is prayed that the Petitioner may be permitted to withdraw the captioned Appeal, with liberty to file the same again if needed and to transfer a sum of Rs.11,26,71,324/- to Respondent No.2 in the account details given.
Pre deposit amount can be returned only after disposal of the Appeal. The Petitioner/Appellant prayed for withdrawal of this Appeal and sought liberty to file the Appeal, if needed. This liberty cannot be given. However, in view of the settlement reached, the Appeal is dismissed as withdrawn. Registry is directed to transfer Rs.11,26,71,324/-, along with interest accrued, in any, to Respondent No.2 to the account details given.
PAM
1 issue framed by the court
Whether the tribunal can allow withdrawal of appeal with liberty to file a fresh appeal on settlement.
Petitioner
Respondent No.2
As recorded by the court registry
2 orders share this CNR
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