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Axis Bank versus Rakesh Kumar Sharma and Ors. — Banking and Recovery | DRT (2026)

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DRT
2026
Axis Bank versus Rakesh Kumar Sharma and Ors.Axis Bank v. Rakesh Kumar Sharma and Ors.

Dismissed

Axis Bank v. Rakesh Kumar Sharma and Ors.

DRT22 Jun 2026TA/1880/2023

Case brief

AI extract

What is this about?

Client decided to withdraw the stay application, as parties had settled the dispute and full payment was received by the bank.

What did the court decide?

Withdrawal of TA no. 188012023 allowed; original documents returned to registry.

What the court decided

Cite this judgement

Axis Bank v. Rakesh Kumar Sharma and Ors., TA/1880/2023 (DRT), decided on 22 June 2026.

The Debt Recovery Tribunals publishes no neutral citation for this judgement — cite it by case number and date of decision.

Bench / Coram

SUSHIL KUMAR RASTOGI

Parties & counsel

AI extract

Outcome

Withdrawal of TA no. 188012023 allowed; original documents returned to registry.

Detailed headnote1 paragraphs

In a dispute regarding a stay application under the Recovery of Debts due to Banks and Financial Institutions Act, the Debts Recovery Tribunal allowed the withdrawal of the stay order as the applicant bank had received the full settlement amount from the respondents during the pendency of the proceedings.

A compact analysis

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.

A

Debts Recovery Tribunal-Il, Delhi

TA/188012023 AXIS BANK Vs RAKESH KUMAR SHARMA AND ORS

22.06.2026

Item no. 54

Present Shri Shubham Singh, counsel for applicant bank. None for defendants.

Matter is taken through Video Conferencing/ Hybrid^Mode.

IA no.1740l2026 has been filed by the^applicant bank for withdrawal of the^{present TA.}

The Ld. Counse! for the applicant^{bank has submitted} that during the^pendency of the^{proceedings,the parties} have amicably settled their disputes^{and the defendantshave} paid the entire settled amount of Rs.41,00,000/-ⁱⁿ account no.PHR079200782357 towards^{full and final settlement of the} bank's claim. It is submitted^{that the applicantbank has} received the aforesaid settlement^{amount in full and has no} suliving claim whatsoever against^{the defendants in respect} of the^present T.A. no.^{t88012023. Therefore, he wants to} withdraw the^present TA and^{further requestedfor return of} original documents

In view of the above submission^{made by the Ld.} Counsel for the applicant bank,^{TA no.188o} 12023^is dismissed as withdrawn. Registry^{is directed to return} the original documents after^{keeping the ceftified} copies on record. IA no.L74Ol2O26^{alongwith pending} IAs, if any, disposed of accordingly.

File be consigned to record room.

9\ (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi

P

Parties & counsel

AI extract

applicant
AXIS BANK
respondent
RAKESH KUMAR SHARMA

Coram

AI extract

SUSHIL KUMAR RASTOGI

Case details

As recorded by the court registry

Court: DRT
Decided on: 22 Jun 2026 · June
Case no.: TA/1880/2023
CNR: 070120039632023
Topic: Banking and Recovery

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