Dismissed¶51

M/S. Ncdex E Markets Limited (Neml) v. Canara Bank

Karnataka HC6 Aug 2025WP/23331/2025

Case brief

AI extract

What is this about?

Dismissed as withdrawn (memo) - Article 227 certiorari writ (GM-DRT) by NCDEX E Markets Ltd (NEML) challenging DRT-I Bengaluru order dated 10.07.2025 in IA No. 1491 of 2025 (under S.22(h) RDB Act, 1993 r/w Rule 12(9) DRT (Procedure) Rules, 1993) in OA No. 493 of 2019; during pendency DRT-I disposed of all thirty-nine OAs including OA 493/2019, allowed in favour of Canara Bank (R-1) and against NEML (Defendant No. 2), rendering the writ infructuous; withdrawal permitted subject to all just exceptions in law; Bench: B M Shyam Prasad, J.; decided 06.08.2025; no merits decided, no precedents cited.

What did the court decide?

None on merits; the learned counsel for the petitioner filed a memo seeking withdrawal and the petition stands dismissed as withdrawn subject to all just exceptions in law. ¶51

M/S. Ncdex E Markets Limited (Neml) Vs Canara Bank — Banking and Recovery | Karnataka HC (2025)

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NC: 2025:KHC:31107 WP No. 23331 of 2025

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HC-KAR

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 6^TH DAY OF AUGUST, 2025

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BEFORE

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THE HON'BLE MR. JUSTICE B M SHYAM PRASAD

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WRIT PETITION NO.23331 OF 2025 (GM-DRT)

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BETWEEN:

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M/S. NCDEX E MARKETS LIMITED (NEML) HAVING ITS OFFICES AT ACKRUTI CORPORATE PARK, 1^ST FLOOR, LBS MARG, KANJURMARG (W), MUMBAI-400078, MAHARASTRA, REPRESENTED BY ITS AUTHOIRSED SIGNATORY, MR. MANJUNATH P.V.,

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…PETITIONER

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(BY SRI. ABHINAG S., ADVOCATE)

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AND:

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Digitally signed by VANAMALA N

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Location: High Court of Karnataka

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CANARA BANK HAVING ITS HEAD OFFICE AT NO.112, J.C. ROAD, BENGALURU 560002

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AND ITS BRANCH OFFICE AMONG OTHER PLACES AT KOPPAL DISTRICT, KARATAGI-583229 KARNATAKA.

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M/S. CNX CORPORATION LIMITED, A COMPANY INCORPORATED UNDER THE PROVISIONS OF COMPANIES ACT, 1956 HAVING ITS OFFICES AT,12-A, HAJI KASAM BUILDING,

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NC: 2025:KHC:31107 WP No. 23331 of 2025

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HC-KAR

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3RD FLOOR, 66, TAMARIND LANE FORT, MUMBAI-400 001 THE

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AND ITS REGISTERED OFFICE AT 144, 14TH FLOOR, ATLANTA BUILDING, PLOT NO.209, JAMNALAL BAJAJ MARG, NARIMAN POINT, MUMBAI-400 021 REPRESENTED BY ITS DIRECTOR, MS. NIRUPAMA DATTATRAYA PENDURKAR.

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MR. CH PRAKASH SON OF SUBBA RAO, AGED ABOUT 41 YEARS, RESIDING AT, MALKAPUR, SASALMARI CAMP - 584 128, RAICHUR DISTRICT, KARNATAKA

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…RESPONDENTS

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(BY SRI. T.P.MUTHANNA, ADVOCATE FOR C/R1)

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THIS WRIT PETITION IS FILED UNDER ARTICLE

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227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF CERTIORARI OR ANY OTHER APPROPRIATE WRIT AS THIS HONBLE COURT MAY DEEM FIT, SETTING ASIDE THE ORDER DATED JULY 10, 2025, PASSED BY THE HONBLE DRT-I, KARNATAKA AT BENGALURU IN INTERLOCUTORY APPLICATION NO.1491 OF 2025 IN ORIGINAL APPLICATION NO.493 OF 2019 (AT ANNEXURE-A).

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NC: 2025:KHC:31107 WP No. 23331 of 2025

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HC-KAR

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THIS PETITION, COMING ON FOR ORDERS THIS

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DAY, ORDER WAS MADE THEREIN AS UNDER:

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CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD

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ORAL ORDER

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The learned counsel for the petitioner files a memo seeking withdrawal of the petition, which reads as under:

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"The Petitioner most respectfully submits as follows:

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1. The Petitioner had preferred the captioned matter before this Hon'ble Court challenging the Order dated 10.07.2025 passed by the Debts Recovery Tribunal I, Bengaluru in Interlocutory Application No. 1491 of 2025 filed by the Petitioner under Section 22(h) of the Recovery of Debts and Bankruptcy Act, 1993, read with Rule 12(9) of the Hon'ble DRT (Procedure) Rules, 1993 in Original Application No. 493 of 2019, and seeking, inter alia, quashing of the said order and consequential reliefs.

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NC: 2025:KHC:31107 WP No. 23331 of 2025

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HC-KAR

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2. The Writ Petition was filed on 31.07.2025 and was mentioned on Thursday, i.e., 31.07.2025, whereby, this Hon'ble Court was pleased to grant circulation on 04.08.2025.

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3. It was informed to the Ld. Debts Recovery Tribunal - I, Bengaluru that the captioned Writ Petition along with 3 other Writ Petitions had been filed before this Hon'ble Court and that the Petitioner had sought urgent listing thereof. The Petitioner had further requested the Ld. Debts Recovery Tribunal to defer the hearings in thirty-nine Original Applications, including the abovementioned Original Application No. 493 of 2019, pending the outcome of the proceedings before this Hon'ble Court.

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4. The Ld. Debts Recovery Tribunal I, Bengaluru has since pronounced final orders and has disposed of all thirty-nine Original Applications, including the abovementioned Original Application No. 493 of 2019. The said Original Application was allowed in favour of the Plaintiff therein, i.e., Respondent No. 1 herein, and, inter alia, against Defendant No.

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NC: 2025:KHC:31107 WP No. 23331 of 2025

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HC-KAR

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2 (being the present Petitioner herein), thereby rendering the relief sought in the present Writ Petition infructuous.

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5. In view of the aforesaid developments, the present Writ Petition has been rendered infructuous.

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6. The Petitioner, therefore, respectfully prays that this Hon'ble Court may be pleased to allow the present Writ Petition No. 23331 of 2025 to be withdrawn, with liberty to the Petitioner to seek appropriate reliefs under law before the appropriate forum(s).

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In view of the memo filed, the petition stands dismissed as withdrawn subject to all just exceptions

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in law.

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Sd/(B M SHYAM PRASAD) JUDGE

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M/S. Ncdex E Markets Limited (Neml) v. Canara Bank

Case brief

What is this about?

What did the court decide?

M/S. Ncdex E Markets Limited (Neml) v. Canara Bank

Case brief

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What the court decided

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