Debts Recovery Tribunals and Appellate Tribunals
KANDIMALLA NAGESWARA RAO vs PUNJAB NATIONAL BANK on 28 August 2026
**DEBTS RECOVERY TRIBUNAL
VISAKHAPATNAM**
Dated this 28<sup>th</sup> day of August, 2026
MA No. 05/2025 in SA NO. 230/2022
**Between:**
Kandimalla Nageswara Rao & Others
....Petitioners/ Applicants
**And**
1. 1. Authorised Officer, Punjab National Bank, Vijayawada
2. 2. Smt P. Rajyalakshmi
.... Respondent Bank
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**ORDER**
The Ld. Counsel of the Petitioners/applicants filed a memo stating that the SA 230/2022 was allowed by this Tribunal vide order dt. 28.11.2024 and aggrieved by the said order the Respondent bank filed an appeal before the Hon'ble DRAT at Kolkata. After filing the appeal by the Respondent Bank with the intervention of the elders the matter has been settled between the applicant and the auction purchaser i.e Respondent No.2. Therefore it is decided to withdraw all the cases pending against each other pending in the all the courts/Tribunals and also requested the respondent bank to withdraw the appeal pending before the Hon'ble DRAT at Kolkata. Accordingly at the request of applicant the respondent bank has withdrew the appeal filed against the applicants in the SA230/2022.
It has been further stated that in view of the settlement arrived between the applicant and the auction purchaser i.e Respondent No.2 in the SA 230 of 2022, the petitioner intend to withdraw the above MA as not pressed. Therefore the above MA may be dismissed as not pressed by the petitioner/Applicants.
The Ld. counsel for the Respondent No.1 has also endorsed on the above memo.
In view of the memo filed by the applicant and endorsement of Respondent Bank and as per the settlement arrived between the applicant and auction purchaser i.e Respondent No.2 and the petitioners are intend to withdraw the above MA as not pressed, this MA is dismissed, as not pressed, as withdrawn, as prayed for. All connected IAs, if any, are also disposed of.
PO