Debts Recovery Tribunals and Appellate Tribunals
Punjab National Bank vs M/s Siddiqee Exports & ors on 24 April 2025
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Exh-7
IN THE DEBTS RECOVERY TRIBUNAL-II AT AHMEDABAD (Pankaj Kumar Upadhyay, Presiding Officer)
Item No.147 Appeal No.03/2017 in RP 424 of 2016
24.04.2025
Present:
Punjab National Bank Vs. M/s Siddiquee Exports & Ors.
Ms.Nalini Lodha, Ld. Counsel for the Appellants.
None for the Respondent.
*Withdrawal Affidavit Ex.A/06* filed by Appellants is taken on record.
The present Appeal has been filed by Appellants before this Tribunal. However, during the pendency of above Appeal, dispute has been settled between the parties and Appellants has filed *Withdrawal Affidavit Ex.A/06* stating therein that *settlement was arrived at between the parties and the Appellant received full and final amount of Rs.4,46,50,000/- against the dues of Rs.4,54,86,456.15 and the captioned RC was ordered to be closed vide order dated 21.06.2022 (copy at Annexure-1) passed by Recovery Officer, DRT-II, Ahmedabad. In view of the matter, the above Appeal arising from the order passed in the RP, does not survive and has become infructuous.*
In view of the above submissions of Ld. Counsel for the Appellants and contents of *Withdrawal Affidavit Ex.A/06*, as no cause of action survives to the Appellants in present Appeal due to settlement between the parties, the above Appeal deserves to be disposed-of and dismissed as having become infructuous, with no order as to cost.
Order accordingly.
File be consigned to records.
(PANKAJ KUMAR UPADHYAY) PRESIDING OFFICER DRT-II, AHMEDABAD 24.04.2025