PUNJAB AND SIND BANK vs M/S VALLEY IRON AND STEEL COMPANY LIMITED on 14 October 2026

Deb,ts Recovery Tribunal-Il, Delhi TAlto3l2024 PUNJAB AND SItrD BANKVs M/S VAtLEy IRON AilD STEEL COMPANY UMITED L4.70.2026 Present Item no. 47 Shri Sagar Diwan, counsel for applicant bank. Shri A.K. Sharma, counsel for defendant no. I and 2. None for other defendants. Matter is taken through Video Conferencing/ Hybrid Mode.

2. IA no.1381l20?6 has been fited by the appticant bank for withdrawal of the present OA and refund of the court fee.

3. The Ld. Counsel for the applicant bank has submitted that in terms of the said OTS proposal the defendants has deposited the entire amount and the applicant has issued no due certificate bearing no.pARC/B2g/2025-26 dated 31.03.2026 to the defendants. Therefore, it is prayed to withdraw the present OA and prayed for refund of the court fee. 4 Heard the Ld. Counsel for applicant bank and perused the records.

5. The Ld. Counsel of the applicant bank has requested for refund of the court fees. It is submifted that the in terms of the said OTS proposal the defendants has deposited the entire amount and the applicant has issued no due certifl cate bearing no. pARC/828 12025-26 dated 31.03.2026 to the defendants, therefore, the court fees may be refunded as per provisions contained in the rules. In this regard theW Honble Supreme Court has passed the order in SLP(c) No(s).72312023 dated ZB.OJ:2OZS tided as Jage Ram cL

Vs Ved Kaur &Ors. The HonUe Supreme Couft has considered the matter and has held that: Para 6- The refund of court fes is prmissibte onty ii the matter is referrd to Arbitratio4 Concrtratio4 judbral setflement, inctuding through Lok Adalat or medr?tbn for setflement and the ase ts decided n terms of such a settlement and not otherwis. Para 7- In the case at hane the settlement in terms of whrth the second appeat was duidd by the High Court is not on reference to any of the aboue authoritbs/fora rather it was an amiable sttlement out of the court Para 8- Accordingty, we are of the opnion that the petihoner is not enfiAd to refund of the cout fes and the High Court has not committed any error or iltqality in refusing such a prayer.,,

6. In view of the above , TAlt0igl2024 is dismissed as withdrawn. The applicant bank has also sought refund of court fee. The matter has not been disposed of on the basis of settlement in Lok Adalat. There appears no occasion to return the court fee. The matter has been withdrawn due to in terms of the said OTS proposal the defendants has deposited the entire amount and the applicant has issued no due certificate bearing no.pARC/g2g12025_26 dated 31.03.2026 to the defendants. Therefore, the prayer of the applicant bank for rcfund of couft fees is hereby declined. Alt the pending IAs stand disposed of. IA no.1381/2o25 is disposed off accordingty. File be consigned to record room. s{ (susHrL KU r.iAR KASTOGT) PRESIDING OFRCER DRT-II, Delhi P