Debts Recovery Tribunals and Appellate Tribunals
M/S ASP SOLU TECH PVT LTD AND ORS vs Tata Capital Housing Finance Ltd on 19 February 2024
**IN THE DEBTS RECOVERY TRIBUNAL-II AT AHMEDABAD
(Laxman Madnani, Presiding Officer)**
Diary No. 2473 of 2022
Date of Filing : 29.12.2022
Date of Decision : 19.02.2024
**ASP SOLU TECH PVT. LTD., & ORS.**
.....APPLICANTS
**VERSUS**
**TATA CAPITAL HOUSING FINANCE LTD.,**
.....RESPONDENT
**Appearance:**
None appeared for the Applicants
Mr.Keshav Chopra, Ld. Proxy Counsel for Mr.L.M.Patel, Ld. Counsel for the Respondent Bank.
**ORDER**
1. 1. Today, this matter has come up for hearing.
2. 2. Ld. Counsel for the Respondent Bank has filed purshis Ex.R/06, submitting *inter alia* that during the pendency of the present Application, out of court settlement has been arrived at between the Applicants and the Respondent and therefore the Respondent do not intend to take recourse or further measures for enforcement of the security interest under SARFAESI Act, 2002 against the Applicants. Copy of settlement letter dated 27.10.2023 and release letters dated 14.12.2023 & 19.01.2024 are annexed along with the purshis so filed at Ex.R/6. In view of the said fact, the present Application has become infructuous and hence, appropriate order may be passed to dispose of the present Application.
3. 3. Matter called several times, none present for the Applicants.
4. 4. In this context, it would be pertinent to refer to the judgment of the Hon'ble Apex Court in the case of **Shipping Corporation of India Ltd. V/s. Machado Brothers & Others, 110(2004) DLT 649 (SC)** wherein it has been held as under:
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*"For the reasons stated above, we are of the opinion that continuation of a suit which has become infructuous by disappearance of the cause of action would amount to an abuse of the process of the court and interest of justice requires such suit should be disposed of as having become infructuous."*
2Diary No.2473 of 2022
1. 5. Considering the submissions made by the Ld. Counsel for the Respondent that no cause of action survives to continue the proceedings of the present application. Therefore, in the interest of justice, this Tribunal is inclined to accept the submission of the parties to dispose of the present S.A.
2. 6. In view of the aforesaid discussion and without commenting on the merits of the case, present Diary No.2473 of 2022 along with Delay condonation application stands disposed of, with no order as to cost.
3. 7. File be consigned to records.
**(LAXMAN MADNANI)** **Presiding Officer,** **DRT-II, Ahmedabad**
/smita/
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