The working Bench allowed the transferred application filed by IDBI Bank to withdraw its original application for recovery, holding the claim has been settled out of court even without costs.
The original application for recovery was allowed to be withdrawn and the matter disposed of as settled out of Court, however without costs.
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.
TA No. 667 of 2023
28.02.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 28th day of February 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 667 of 2023
(Originally filed before DRT- II, Chennai as OA 273/2022 and thereafter transferred to this Tribunal and renumbered as TA No 667 of 2023)
M/s. IDBI Bank Ltd., 115, Anna Salai, Saidapet, Chennai - 600 015.
….Applicant
-Vs-
TA No. 667 of 2023
28.02.2024
Rep by its Authorized Officer, Commercial Branch, No.232, N.S.C. Bose Road,
Chennai - 600 001.
Counsels on record / appeared:
Counsel for Applicant : M/s. NVS & Associates
ORDER
TA No. 667 of 2023
28.02.2024
an application for withdrawal of CIRP against D-1 as per Section 12 A of the Code. NCLT vide order dated 20.12.2023 allowed the withdrawal, consequent to which, applicant bank had received a sum of Rs.12,68,78,544.50p on 21.12.2023 as per the settlement proposal made by the promoter, towards satisfaction of the debt payable by D-1 to D-3. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court.
pending shall stand closed.
(Dictated to Steno, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 28th day of February, 2024)
Sd/(GANAPATHI K.R.K) PRESIDING OFFICER
M/s. IDBI Bank Ltd.
M/s. Appu Hotels Limited
Dr. Palani G. Periasamy
Smt. Visalakshi Periasamy
Indian Bank
Bank of India
Shri Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
