Radha Tex vs BANK OF BARODA on 25 July 2024

Item No.25NDN(MA)/508/2022

Exh-10

M/s Radha Tex. & Ors. (Prop. Mr.Samirbhai Govindbhai Gandhi) Vs. Bank of Baroda

25.07.2024

Present:

Mr.Nishan Majumdar, ld. Counsel for the Applicants.

Ms.Juhi Chavda, ld. Counsel for the Respondent.

Withdrawal Affidavit Ex.A/09 filed by Applicants is taken on record.

Heard and perused.

Ld. Counsel for Applicants submitted that the present matter has been filed by Applicants before this Tribunal against the SARFAESI measures initiated by Respondent Bank against Applicants and secured asset. However, during the pendency of above matter, dispute has been settled between the parties and Applicants have deposited entire settlement amount and Respondent Bank has closed loan A/c of Applicants and issued 'No Due Certificate' dated 22.11.2023, a copy of which has been filed along with withdrawal affidavit Ex.A/09 and that as no cause of action survives to the Applicants in present matter, it may be disposed-off as having become infructuous.

Respondent's Counsel submitted that she has no objection, if the above MA is disposed-off, as Applicants have paid entire settlement amount.

In view of the above submissions of ld. Counsel for both the parties and contents of Withdrawal Affidavit Ex.A/09, as no cause of action survive to the Applicants in present MA due to settlement between the parties and its payment to Respondent, the above matter deserves to be disposed-off and dismissed as having become infructuous, as also withdrawn, with no order as to cost.

Order accordingly.

File be consigned to records.

(ANIL KUMAR GUPTA) PRESIDING OFFICER I/c. DRT-II, AHMEDABAD 25.07.2024