Debts Recovery Tribunals and Appellate Tribunals
Mrs Babita Shailesh Shetty vs M/s. Icon Engineers on 4 July 2025
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04.07.2025 Exh. Roznama-MDRT-II M.A. No.47 of 2025 Next date Mr Aastik Agarwal i/b M/s. Wadia Ghandy & Co., Advocate for the Applicant. Mr Shadab Siddiqui i/b Mr R.L. Motwani, Advocate for Respondent No.2. None for other Respondents. The present Misc. Application is filed by the Applicant seeking release of the accrued interest on the principal amount of Rs.15,00,000/- lying with the Ld. Registrar, DRT-2, Mumbai. The Ld. Advocate for the Applicant submits that vide order dated 29.11.2024, the Applicant was given liberty to withdraw the amount of Rs.15,00,000/- along with the accrued interest and handover the same to the Respondent No.2 herein i.e., Modal Co- operative Bank Ltd. and the Ld. Advocate for the Applicant assured to file appropriate application for the same. Thereafter, Ld. Advocate for the Applicant filed M.A. No.138 of 2024
praying for directions for withdrawal of the amount of Rs.15,00,000/- alongwith all accrued interest to pay the same to Respondent No.2 and the above M.A. was allowed vide order dated 17.01.2024 with a direction to the Ld. Registrar to release Rs.15,00,000/- to Respondent
No.2.
However, inadvertently there was no direction regarding the accrued interest on the principal amount of Rs.15,00,000/-. Hence, the Ld. Advocate filed the present Application for the release of the said accrued interest on the principal amount lying with the Ld. Registrar, DRT-2, Mumbai. Ld. Advocate for the Respondent No.2 does not object to the prayer regarding the release of the accrued interest. Heard Ld. Advocate for the parties. Perused the Record.
In the above facts and circumstances of the case, M.A. No.47 of 2025 is allowed. The Ld. Registrar is directed to nrb - 05 release the accrued interest on the principal amount of Rs.15,00,000/- to Respondent No.2, Modal Co-operative Bank Ltd. on proper acknowledgement. File be consigned to the Record Room after due compliance. Sd/- P.O. DRT-II Closed