Tribunals and CommissionsSingle Bench(2026) 04 DRAT CK 2944

Assets Reconstruction Company (India) Ltd. vs M/s. Phoenix ARC Private Ltd & Ors.

Debts Recovery Appellate Tribunal, Chennai · Decided on 13 April 2026

HON’BLE JUDGES
G. Chandrasekharan, Chairperson
RESULT
Dismissed
CASE NUMBER
RA 127/2019

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Judgment

3 paragraphs · 96 words

ORDER

When the matter is taken up, learned counsel for the appellant filed a memo stating that the borrower has settled the loan account through OTS towards final settlement of entire outstanding debt. Thus, it is submitted that this appeal has become infructuous and therefore prayed for withdrawal of this appeal

In view of the settlement of the claim with the borrower under OTS and the memo filed, the appellant is permitted to withdraw this appeal and the appeal is dismissed as withdrawn. Parties shall bear their own costs. Pending IAs, if any, shall stand closed.