Dismissed

Royal Traders v. Assets Reconstruction Company of India Ltd.

DRAT11 Nov 2025REGULAR APPEAL/44/2025

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal at Chennai disposed of three interrelated regular appeals. The Court found that since a settlement was reached and withdrawal applications were filed, the appeals were dismissed as withdrawn. It ordered the Registry to transfer Rs. 26 Crores with accrued interest to the Respondent.

What did the court decide?

Registry directed to transfer Rs.26 Crores with accrued interest to Respondent.

Royal Traders versus Assets Reconstruction Company of India Ltd. — DRAT (2025) — LawSathi Research

¶1

DEBTS RECOVERY APPELLATE TRIBUNAL AT MUMBAI

¶2

(SITTING AT CHENNAI)

¶3

IA 659/2025 in Regular Appeal No. 44/2025 IA 661/2025 in Regular Appeal No. 45/2025 and IA 662/2025 in Regular Appeal No. 43/2025

¶4

11.11.2025

¶5

COMMON ORDER

¶6

These Applications are filed to direct the Registry to transfer an amount of Rs.26 Crores deposited by the Appellant, along with interest accrued, in favour of Respondent.

¶7

This Tribunal passed an order in I.A. Nos. 246/2024, direction of the Hon'ble Supreme Court of India and directed the Petitioner to deposit of 50% of 1,03,86,00,000/-, i.e. *51,93,00,000/- as pre-deposit. As per the direction of the Hon'ble Supreme Court, the amount already paid by the petitioner i.e. ₹36 Crores (10 crores + ₹26 crores) were considered for pre-deposit, of ₹15.93 crores. 247/2024, and 248/2024 for waiver of pre deposit, as per the and after consideration, they were directed to make the pre-deposit

¶8

the Respondent ARCIL on the ground of a settlement reached. 27848/2025, Hon'ble High Court of Bombay and directed that, in view of a compromise reached between the parties, to record the compromise and list the matter for reporting compliance on 06.01.2026. In terms of this order, pursis was filed to transfer ₹26.00 crores with accrued interest to the Respondent ARCIL. Thereafter, the Respondent ARCIL institution filed I.A. Nos. When these Applications have been pending for compliance, Petitioner/Appellant filed Applications for paying these amounts to Hon'ble High Court of Mumbai passed an order in WP (L) No.

¶9

625/2025, 626/2025, 627/2025 and 628/2025 respectively for paying the aforesaid amount.

¶10

Tribunal, Petitioner/Appellant should have deposited till date. As already stated, the Waiver Applications in I.A. Nos. 51,93,00,000/-. But, so far only ₹36.00 crores has been deposited 246/2024, 247/2024, and 248/2024 have been disposed of as per the direction of the Hon'ble Supreme Court. As per the order of this and the remaining amount of 15.93 crores has not been deposited

¶11

settlement include ₹26 crores deposited prior to disposal of Waiver Meanwhile, they entered into a compromise and the terms of Applications. There is no specific mention in the order of Hon'ble High Court of Mumbai as to whether even when waiver order is not complied, ₹26.00 crores can be released.

¶12

Now it is informed by the Counsel for the Petitioner/Appellant that the Petitioner/Appellant has already filed applications for withdrawal of these Appeals before the Registry, DRAT, Mumbai.

¶13

again if needed, and to transfer the sum of Rs.26 Crores to Respondent to the account details given. It is seen from the Applications that the parties have entered into a settlement. This loan account, out of three loan withdraw the captioned Appeals, with liberty to file the same it is prayed that the Petitioner/Appellant may be permitted to accounts, form part of these Appeals. In the said circumstances,

¶14

Pre deposit amount can be returned only after disposal of the Appeal. The Petitioners/Appellants prayed for withdrawal of This liberty cannot be given. However, in view of the settlement these Appeals and sought liberty to file the Appeals, if needed. reached, these Appeals are dismissed as withdrawn. Registry is

¶15

directed to transfer Rs.26 Crores with accrued interest, if any, to

¶16

Respondent to the account details given.

¶17

PAM

Royal Traders v. Assets Reconstruction Company of India Ltd.

Case brief

What is this about?

What did the court decide?

Royal Traders v. Assets Reconstruction Company of India Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Case details

All orders in this case

Similar cases

Shri Rupesh Ashok Pure versus Canara Bank

Sambhaji Balkrishna Sawant versus Uco Bank

Jitendrakumar Mavjibhai Padhiyar versus Ujjivan Small Finance Bank Limited

Royal Traders versus Asset Reconstruction Company of India Ltd.

Royal Traders versus Assets Reconstruction Company India Limited

Ms Kamala Mills Ltd. versus India Bulls Housing Finance Ltd.