State Bank of India v. Automax India Traders and Auto Consultants
Case brief
What is this about?
Order allowing the applicant bank's application for withdrawal of an Original Application (OA) on the basis of an out-of-court settlement. The debtor has deposited Rs. 55 Lakh and submitted an affidavit from the Chief Manager.
What did the court decide?
Application for withdrawal of OA allowed; Organic Application disposed of as withdrawn.