Debts Recovery Tribunals and Appellate Tribunals
Kotak Mahindra Bank Ltd. vs M/s. Satyam Builders & ors. on 13 March 2024
**IN THE DEBTS RECOVERY TRIBUNAL-II AT AHMEDABAD**
(Laxman Madnani, Presiding Officer)
M.A.No.57 of 2015
Date of Filing : 21.07.2015
Date of Decision : 13.03.2024
**KOTAK MAHINDRA BANK LTD.,**
.....APPLICANT
**VERSUS**
**SATYAM BUILDERS**
.....RESPONDENT
**Appearance:**
Ms.J.N.Raval, Ld. Counsel appeared for the Applicant None present for the Respondent
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**ORDER**
1. 1. Today, this matter has come up for hearing on withdrawal affidavit Ex.A/9 filed today by the Applicant.
2. 2. Ld. Counsel for the Applicant has filed withdrawal affidavit at Ex.A/9, submitting *inter alia* that during pendency of the present matter, Respondent has given OTS proposal of Rs.55.00 Lakhs, which has been accepted by the Applicant and as per the said OTS terms and condition, Respondent has paid an amount of Rs.55.00 Lakhs towards full and final settlement. Further, that the Applicant has also issued No-Dues Certificate issued by the Applicant is annexed along with affidavit Ex.A/9. As such, it is submitted that in view of the said settlement arrived at between the parties, appropriate orders may be passed.
3. 3. Matter called several times, none present for the Respondent.
4. 4. Considering the submissions made by the Ld. Counsel for the Applicant that the Applicant wants to withdraw the captioned Misc. Application, therefore, in the interest of justice, this Tribunal is inclined to accept the submission of the Applicant to dispose of the present M.A.
5. 5. In view of the aforesaid discussion and without commenting on the merits of the case, present M.A. No.57/2015 stands dismissed as withdrawn along with all pending applications, if any, with no order as to cost.
6. 6. File be consigned to records.
(LAXMAN MADNANI) Presiding Officer, DRT-II, Ahmedabad