Debts Recovery Tribunals and Appellate Tribunals
CANARA BANK vs National Agricultural Cooperative Marketing Federation Of India Limited on 23 May 2025
**Debts Recovery Tribunal-III, Delhi**
**MA/15/2025**
**Canara Bank Vs NAFED**
23.05.2025
Item no. 01
Present: Mr. Inderjeet Singh, Ld. counsel for applicant bank.
Ms Sumitra Chordhury, Ld. counsel for defendant.
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1. 1. This matter is taken up by this Tribunal through Hybrid mode.
2. 2. In this matter the Ld. counsel for applicant bank submitted that he has filed **MA No. 15/2025** for seeking withdrawal of the case titled "Canara Bank" Vs National Agriculture Co-operative Marketing Federation of India Limited bearing TRC No. 14/2024.
3. 3. It is further submitted in IA that the applicant intends to withdraw the present proceedings in the light of the NOC dated 16.05.2023 issued by the Canara Bank and the undertaking dated 06.06.2023 issued by the respondent to Central Bank of India stating the "NAFED undertakes in terms of para 2(e) of the MOM dated 30.11.2018 to credit auction proceeds of Mega Mall to the extent of area measuring 49,028 Sq. Ft to the designated account maintained by the Central Bank of India for onward distribution to mender banks.
4. 4. That the applicant bank has already withdrawn the case bearing no. TA No. 411/2022 filed by applicant against the respondent which was going on before Ld. Presiding Officer, DRT-III, Delhi. That applicant is not inclined to pursue the present recovery proceedings.
5. 5. That applicant bank be allowed to withdraw the present recovery proceedings against the respondent in light of MOM dated 30.11.2018 executed between all the banks (including applicant herein) and the respondent undertaking dated 06.06.2023 submitted by the respondent.
6. 6. Hence, request is made to allow this MA. In the light of averments made in MA, this MA is hereby allowed and applicant bank i.e. "Canara Bank" erstwhile Syndicate Bank is permitted to withdraw the Recovery Proceedings bearing TRC No. 14/2024. Now, TRC No. 14/2024 is hereby closed.
7. 7. MA as well as TRC file consigned into record room.
23.05.2025
(SHIV KUMAR I) PRESIDING OFFICER, DRT-III, DELHI