Debts Recovery Tribunals and Appellate Tribunals
M/s. BALAJI PRECISION TUBES (INDIA) PVT.LTD. vs CANARA BANK on 2 November 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson
I.A. No. 8171/2026
In
Regular Appeal Diary No. 1395/2026
Between
Balaji Precision Tubes (India) Pvt. Ltd. & Anr.
… Appellant/s
V/s.
Canara Bank & Ors.
…Respondent/s
-: Order dated: 02/11/2026: -
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1. Present as under: Mr. Puneet Gogad, Counsel for Applicants. Mr. Rishabh Shah, Counsel for Respondent No. 1.
2. This Regular Appeal (Diary) No. 1395/2026 is taken on praecipe. The application is filed for seeking withdrawal of sum of Rs. 5.5 crores deposited by the Applicants as per the directions of the Hon’ble High Court passed on I.A. No. 8171/2026 in Writ Petition No. 12647/2026.
3. The Counsel for the Applicant/Respondent Bank would submit that the Hon’ble High Court in its order dated 16.10.2026 has specifically passed the order in Para
(b) that the Applicants/Respondent Bank is permitted to appropriate the said amount of Rs. 5.5 crores deposited with DRAT towards the outstanding loan amount.
4. Perused the order of Hon’ble High Court, filed along with the application.
5. The relevant directions contained in paragraph 6 of the order dated 16.10.2026 passed by the Hon’ble High Court are reproduced hereinbelow:
(a) “ The exercise of taking physical possession of the subject property (secured asset) on 19.10.2026, is deferred to 29.10.2026, subject to the applicants depositing the amount of Rs. 5.5 crores with the DRAT in Interim Application No. 568 of 2026 (for waiver) in Regular Appeal No. 1395 of 2026, on or before 19.10.2026 ; (b) With the consent of the Applicants, the petitioner – bank is permitted to appropriate the said amount towards the outstanding loan amount ; ”
6. In view of the order of the Hon’ble High Court, the Interim Application filed by way of praecipe is hereby allowed.
7. List the case on the date already fixed i.e. 25.01.2027. Sd/- Chairperson 02.11.2026
VKC-PRAECIPE