Court No. - 21
Case :- WRIT - C No. - 7498 of 2018 Petitioner :- Mukh Lal Gupta Respondent :- I.C.I.C.I Bank Limited And Another Counsel for Petitioner :- Udai Chandani,Akash Deep Srivastava Counsel for Respondent :- Manish Trivedi
Hon'ble Krishna Murari,J. Hon'ble Ajay Bhanot,J.
Petitioner has approached this Court challenging the proceedings initiated by the respondent-bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'SARFAESI Act') for recovery of outstanding dues.
Sri Manish Trivedi, learned counsel, who has accepted notice on behalf of the respondent-bank, states that after the affidavit was sworn on 21.2.2018 and filed before this Court, there has been settlement between the petitioner and the respondent-bank wherein the parties have agreed that the petitioner shall pay a sum of Rs.2,90,000/- towards full and final settlement of the entire outstanding liability. The letter of the bank dated 21.2.2018 containing terms and conditions of settlement between the parties is taken on record.
Since the parties have settled the dispute and the petitioner vide letter dated 21.2.2018 has agreed to pay a sum of Rs.2,90,000/- in full and final settlement of the outstanding dues, the prayer made in the writ petition is rendered infructuous and the petitioner may deposit the outstanding dues in accordance with agreed terms and conditions.
With the aforesaid observation, writ petition is dismissed.
Order Date :- 27.2.2018 Ashish Tripathi