Axis Bank v. Akhilesh Kumar

Debts Recovety Tribunal-Il, Delhi

oAl237l2O22 A)GS BANK VS AKHILESH KUMAR

29.04,2026

Item no.l1

Present: Sh. Shubham Kumar Dubey, Counsel^{for applicant} bank

Defendants are ex-pafte dated L3.05.2024

Matter is taken through Video C-onferencing/^{Hybrid Mode.}

IA no.96612026 has been filed by the applicant^{bank for} withdrawal of the^present OA.

The Ld. Counsel for the applicant bank^{submitted that the} present application is being preferred seeking an urgent hearing of the withdrawal application in view of^{the subsequent} settlement arrived at between the^{pafties, rendering continuation} of the^{present proceedings wholly} unnecessry^{and infructuous.} Subsequent to the filing of the^{Original Applicationand during} the pendency of the^{presentproceedings, the defendants} approached the applicant bank^for an^{amicable resolution and} full and final settlement of the outstanding^{dues. Pursuant to the} said settlement, the defendants^{have paid} a^{total sum of} Rs.12,00,000/-^(Rupees Twelve^{Lakhs Only) to the complete} satisfaction of the applicant bank,^{and accordingly, the loan} account stands settled and^{closed with no subsisting dues. In} view of the aforesaid full and^{final settlement and closure of the} loan account, no cause of action^{suruives in favour of the} applicant bank, and the^{present OriginalApplicationhas} consequently become infructuous.^{The applicantban( therefore,} does not wish to^press the^{Original Applicationand seeks} permission of this Hon'ble Tribunal to withdraw^{the same. Hence,} the applicant bank wishes to^{withdrawthe presentOA.}