The Debts Recovery Appellate Tribunal dismissed a miscellaneous appeal as withdrawn after the appellants settled the dispute with the respondent bank. The court ordered the refund of the mandatory pre-deposit to the appellant along with accrued interest.
Dismissal of the appeal and direction to refund the deposit to Appellant No. 2 with accrued interest.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Justice Vivek Bharti Sharma, Chairperson I.A. No. 225/2026 (Withdrawal of Appeal)
In
Misc. Appeal No. 113/2024
Between
Basics Style Pvt. Ltd. & Ors.
… Appellant/s
V/s.
Bank of Maharashtra
…Respondent/s
Ms. Mallika Joshi, i/b M/s. Solomon & Co., Advocate for Appellant. Ms. N. Chheda, i/b Mable & Associates, Advocate for Respondent.
-: Order dated: 16/04/2026: -
The matter is taken up for hearing by way of praecipe filed by the Appellants seeking urgent relief.
The Learned Counsel for the Appellants would submit that she has received instructions to withdraw the present matter, as the dispute has been amicably settled with the Bank.
The Learned Counsel for the Appellants would further submit that the mandatory pre-deposit made under Section 18 of the SARFAESI Act be refunded.
The Learned Counsel for the Respondent would submit that the Respondent has no objection to the same.
Accordingly, Miscellaneous Appeal No. 113/2024 stands dismissed as withdrawn.
The Registry is directed to refund the deposit amount to the Appellant No. 2 along with accrued interest, if any, as prayed for in the application.
All pending Interlocutory Applications, if any, stand dismissed.
Sd/-
Chairperson
psa-02
1
1 provisions across 1 enactments
Basics Style Pvt. Ltd. & Ors.
Bank of Maharashtra
Vivek Bharti Sharma
As recorded by the court registry
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