Axis Bank v. Pankaj Verma
Case brief
What is this about?
Debts Recovery Tribunal allowed the applicant bank to withdraw the said application after amicable settlement due payment but declined the prayer for refund of court fees as settlement occurred out of court.
What did the court decide?
Withdrawal of the applicant bank was allowed, but the refund application was declined; the application against the bank was dismissed.
What the court decided
Debts Recovery Tribunal-Il, Delhi
TAlLB,.Ol2023 AXIS BANKVS PAN!(AI VERMA
30.04.2026
Item no. 7
Mr. Shubham Kumar Dubey, counsel for applicant bank.
Mr. Al Ashish, counsel for defendant no.1 and 2.
Matter is taken through Video C.onferencing/ hybrid Mode.
- IA no.94612026 has been filed by the applicant bank for withdrawal of thepresent TA.
- The Ld. C-ounsel for the applicant banksubmits thatpursuant i i- to the amicable settlement the Respondentshas paid a total sum of Rs. 11,25,000/-(Rupees ElevenLakhs Twenty-Five Thousand) to the satisfaction of Applicant Ban( and accordingly, theloan account stands settled and closed with nosubsistingdues. He further submits that he wish to withdraw thepresent TA.
- The Ld. Counsel of the applicant bank has alsorequestedfor refund of the court fees. It is submitted that thematterhas been settled and therefore, the couft fees may berefunded as pef :.i:l provisions contained in the rules. In this regard the Honble Supreme Court haspassed the orderin 9LP(c) No(s)7B/n?? dated 28.01.2025 titld as Jage RamVs VdKaur & Orc. The Hon'ble Supreme Court has considered thematter and has held that:
Issues for consideration
2 issues framed by the court
Whether court fees should be refunded when a settlement is arrived at amicably out of court without reference to arbitration or judicial settlement.
Whether the prayer for withdrawal of an Applications under Section 14 of the SARFAESI Act should be allowed.
Parties & counsel
- applicant
Axis Bank
Coram
Sushil Kumar Rastogi
Case details
As recorded by the court registry
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