Debts Recovery Tribunals and Appellate Tribunals
Mr Praveen Shenoy vs State Bank of India on 13 October 2026
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 13th Day of October 2026
PRESENT: HON’BLE MR. JUSTICE G. Chandrasekharan CHAIRPERSON
RA (SA) 5/2022
(Arising out of Dy.No.12528/2018 On the file of DRT-II, Karnataka at Bengaluru)
and
MA (SA) 5/2022
(Arising out of IA 863/2018 in Dy.No.12528/2018 On the file of DRT-II, Karnataka at Bengaluru)
RA (SA) 5/2022 & MA (SA) 5/2022:
Between
Mr. Praveen Shenoy,
S/o Late Sheshagiri Shenoy
Prop. M/s. Sapthagiri Industries,
Main Road, Hunsemakki,
No.1/52, Hombadi – Mandadi Village,
Hunsemakki Post,
Kundapura Tq. Pin. 576 222,
Udupi District.
.
… Appellant
And
The Authorised Officer,
State Bank of India,
Kundapura Branch,
“Siri” Building, Kundeshwara Temple Road, Kundapura 576 201.
…Respondent
Counsel for Appellant : M/s. M.A. Rajendra
Counsel for Respondent : M/s. S.Sethuraman
Citations and Judicial Treatment
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COMMON ORDER
Learned counsel for the appellant and the learned counsel for the respondent are present.
2. Learned counsel for the appellant in both the appeals has filed a memo for withdrawal of the appeals on the ground the respondent-Bank agreed for settlement of loan account for a sum of Rs.68,00,000/- and a sum of Rs.7,00,000/- has to be paid by the appellant as a pre-condition for issuance of OTS letter. In the withdrawal memo, the learned counsel for the appellant also prays for refund of pre-deposit, which was deposited for entertaining the appeals.
3. In view of the memo filed for withdrawal of these appeals, the appeals in RA (SA) 5/2022 and MA (SA) 5/2022 are dismissed as withdrawn. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.
4. The pre-deposit amount of Rs.12,00,000/- with accrued interest, if any, is ordered to be refunded to the appellant.
Sd/- (Justice G. Chandrasekharan)
Chairperson