Disposed

Indian Overseas Bank v. Elegance Fabrics Pvt. Ltd.

DRT30 Jan 2025TA/38/2024

Case brief

AI extract

What is this about?

In Hybrid mode, this court allowed a creditor's application for substitution of an authorised representative and dismissed an appeal filed by the debtor bank after it cited full settlement of dues, designating the appeal as withdrawn and consigned to record (File Consigned to TE).

What did the court decide?

Substitution of authorised representative for applicant bank allowed. Appeal (TA 138/2024) dismissed as withdrawn.

Indian Overseas Bank versus Elegance Fabrics Pvt… — Contract and Commercial Disputes | DRT (2025)

¶1

Debts

¶2

;:i:s" i'"ilrr:' l.a*: ! ':fi 'r*' .-::ii . I nEU:.^.. nal-ff, Delhi

¶3

12024

¶4

rNprAN ovERS Vs ELEGANCE FABRICS PVT ti

¶5

30.01.202s

¶6

Item no.Bg

¶7

Present: Mr. MP Bahtal, Csunsel for appticant bank Ms. Neha Kapoor;Counsel for defendants

¶8

-,. -- "..

¶9

Matter is taken through video'Conferencingl Hybnd Mode.

¶10

IA Np. 6412025 is filef, by the applicant bank for substitution of authorized representafilUe. fu IA is formal in nature, hence, it is atlowed. ?oS f :ff .; r1. IA no.6512025 has 'bee filed by the applicant bank for withdrawal of the

¶11

The Ld. Counsel icant bank submits that the defendant No.1, 2 a request to the applicant bank for Qne Time applicant bank considered the request of the defe Time Settlement and has accepted the same 2L.6.2023. As per the said settlement the pay a sum of Rupees Fifty Five lakhs only and that nt have paid the aforesaid sum of Rs.55,000,00/ltme Settlement on 18.10.2024. tn view of the aforesa the stands satisfied and at present no amount is d or outstanding against the defendant. He fu that he wish to withdraw the presgnt TA.

¶12

Inviewof thea applicantbank,IA., dismfssed aswithd File beconsignedto	TE ;."$. 'r^rF r@m	made bytheLd.Counselfor isallowed. TAl38lZ024is
'):: i ftr t,..t, 1 ,-"i" ::r.]; '*!,li''d 'i,; , c	i -t' l- .l -ii .Fi1,- ni!'I	("<br>(SUSHILKUMAR RASTOGI) PRESIDINGOFFICER DRT-II,Delhi
-I-.{l:r ,"".$td, ,.-^{l'-^-} 1:!,rf!; .':',.^: 'tiriir.&i *{ar.r	-'^i;r'i t.^'i r-tr, '.dt ,,ii1., i'd ;i''4

Indian Overseas Bank v. Elegance Fabrics Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Indian Overseas Bank v. Elegance Fabrics Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases