Allowed

Punjab National Bank v. Ms Prolific Infra Pvt. Ltd. and Ors.

DRT23 Jun 2026OA/186/2022

Case brief

AI extract

What is this about?

The Tribunal allowed a consent decree application filed by the applicant bank against the respondent. The settlement terms under OTS were incorporated into the order, and the pending appeal was disposed of accordingly.

What did the court decide?

Consent decree passed incorporating the OTS terms and conditions; appeal disposed of.

Punjab National Bank versus Ms Prolific Infra Pvt… — Contract and Commercial Disputes | DRT (2026)

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t t

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Debts Recovety Tribunal-Il,^Delhi

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oAl186/2022

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PUNJAB NATIONAL^{BANK VS MS PROLIFIC} INFRA PvT LTD AND^ORS

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23.06.2026

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Item no. 49

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Present: Shri Subodh^{Kumar Singh,} counsel for aPPIicant bank. Ms. Anushka^{Lohia,counsel for} defendants.

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Matter is taken^{through Video Conferencing/ HybridMode.}

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IA no.508/2025^{has been filed on behalf of the} applicant bank^{seeking allow the present applicationand} consent decree^{in favour of the applicant bank'}

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The Ld.^{counset for the applicant bank has} submitted that the^{parties have agreed to settle the} matter under the^{OTS terms and conditions,and} therefore, this application^{may be disposed of in} accordance with^{the said settlement. It is submittedthat} defendants shall^{withdraw the counter claim/criminal,if} any, filed against^{applicant bank its official immediately. It} is submitted that^{OTS is being considered by the applicant} bank as a commercial^{decisionand shall have no bearing} whatsoever on^{the ongoingcriminal case investigation,if} ary, being^{carried out by the cBl/Policeand the same} shall^proceed as^{per law. It is submittedthat no dues} certificate will be^{issued in favour of defendant only on} receipt of entire^{OTS amount along with applicable} interest. It is submitted^{that simpleinterest MCLR for} one-year^{(applicableon the date of sanction)plus 1olo oll} reducing balance^{basis will be charged where OTS amount} is paid beyond 90^{days, effective from the date of} sanction. It^{is submitted that defendants declare that they} have entered into^{this compromisewlth the applicant out} sri

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of their own free will and^{consent. Therefore,it is prayed} that the IA no.50812025^{may be allowed.}

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The Ld. counsel for^{the defendants has submitted} that defendants^{have filed the joint applicationfor consent} decree with the applicant^{and the same be allowed.}

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Heard the Ld. counsels^{for both the partiesand} perused the record. On^{perusa!of IA No. 508/2025, it is} clear that the^{parties have amicably settled the matter} under the OTS^{terms and conditionsand have jointly} prayed for passing of a^{consent decree. Since the} compromise has^{been arrived between the parties and} both^{partieshave consented to the same, IA No. 50812025} is allowed. The^{compromise/OTSterms and conditions} contained in the^{application shall form part of this order} and shall be binding^{upon the parties. Therefore, OA No'} L8612022 stands^{disposed of in terms of the said} settlement.

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File be consigned^{to records.}

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gl_1 (susHrl KUMAR AASTOGI) PRESIDING OFFICER DRT-II, Delhi

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Punjab National Bank v. Ms Prolific Infra Pvt. Ltd. and Ors.

Case brief

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Punjab National Bank v. Ms Prolific Infra Pvt. Ltd. and Ors.

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