Allowed the applicant to withdraw the Second Appeal in compliance with the Resolution Plan, granting liberty to file a fresh appeal if payment was not received as stipulated.
Withdrawal of the Second Appeal allowed with liberty to file a fresh OA within limitation; refund of court fee allowed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
24/03/2023 Ex. Before Presiding Officer Dr. Rekha G. Dhakar, Next date
No. DRT-1, Mumbai.
Roznama in OA 478 of 2022
Canara Bank Vs Reliance Home Finance Ltd
Advocate Mr. Gajendra A. Rajput appeared for
the applicant.
Mr. Purshottam Kumar appeared as Officer of
the bank.
Mr. Singh I/b Crawford Bayley & Co. appeared
for the defendant.
IA No. 424/2022
By way of the present IA, the applicant is
seeking withdrawal of the OA with liberty.
Ld. Counsel for the applicant informed that
the Resolution Plan qua the company has been
approved however, as per clause 9.7 of the
Resolution Plan, the applicant / financial
creditors are required to withdraw all the
litigations. The clause 9.7 of the Resolution
Plan is reproduced herein under:
“9.7 Without prejudice to the rights
available as aforesaid, in consideration of
making the Financial Creditors
| Payment, all dispute notices, legal proceedings and enforcement actions |
|---|
| filed by or instituted by Financial Creditors or it’s successors or any other Person on their behalf against the Company or any other stakeholders of the Company (except the erstwhile promoter directors of the Company) before any Court, arbitral tribunal, other tribunal, Governmental Authority or any other Person under any Applicable Law or otherwise shall stand withdrawn, without any further action required on the part of the Resolution Applicant. The Financial Creditors shall undertake all actions necessary and execute all such documents, letters and agreements necessary for the purpose of achieving the objective of this clause, including but not limited to withdrawal applications, withdrawal letters, consent terms and settlement agreements.” (emphasis supplied) |
| He also submits that withdrawal of the |
| litigation is pre-condition for the payment as |
| per the Resolution Plan, therefore, he submits |
| that the applicant is seeking withdrawal of the present OA. He also informed that the Hon’ble |
| Apex Court has also provided a timeline for the |
| payment i.e. 31/03/2023, therefore, he submits |
| the present application may be allowed and the |
| applicant may be allowed to withdraw the |
| present OA. However, in case no payment is |
| received as per Resolution Plan dated |
|
|---|---|
| 10/12/2020, liberty may be allowed to restore back the present OA. |
|
| Looking at the facts that the applicant is praying for withdrawal of the OA therefore, in terms of judgment Hon’ble Delhi High Court in the matter of Satish Chand Gupta & Ors. Vs. SBI-W.P No. 2588/2010, the said prayer of the Applicant for withdrawal of the present OA is hereby allowed. Insofar as prayer for restore back the OA is concerned, the applicant is allowed to file the fresh OA with liberty on the limitation. With the above said direction the present OA is hereby disposed off. Request for refund of court fee is allowed as per rule. |
|
| Ex-25 Ex-26 |
File be closed and consign to record room. Application for withdrawal Affidavit |
| P.O. DRT-I |
Sgj/-35
2 issues framed by the court
Whether the application for withdrawal of the Second Appeal should be allowed in compliance with the Resolution Plan.
Whether liberty to file a fresh appeal should be granted in case no payment is received as per the Resolution Plan.
Colour shows how this judgement treated each authority
Satish Chand Gupta & Ors. Vs. SBIRelied on¶3
Satish Chand Gupta & Ors. Vs. SBI-W.P No. 2588/2010
1 provisions across 1 enactments
Canara Bank
Reliance Home Finance Ltd
Dr. Rekha G. Dhakar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
