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Judgment
Gopinath P, J .
The petitioner seeks to withdraw this original petition with liberty to pursue his remedies before the Debts Recovery Tribunal in S.A. No.324/2021.
Heard the learned Standing Counsel for the 1st respondent bank also.
Having regard to the submission made by the learned counsel for the petitioner, this original petition will stand disposed of permitting the petitioner to pursue his remedies before the Debts Recovery Tribunal in the securitization application mentioned above. To enable the petitioner to seek relief from the Tribunal the status-quo as on today shall be maintained for a period of one week from today. It is made clear that no further extension of time will be granted to the petitioner, taking note of the fact that the petitioner has not complied with the interim order dated 28-02-2022 which directed to payment of Rs.1.50 Crores as a condition for stay on or before 30-03-2022 and despite the fact that the time for payment was extended by order dated 24-05-2022 till 30-06-2022. I make it clear that the Tribunal will be free to decide the matter on merits and untrammeled by the fact that this court had passed earlier interim orders in favour of the petitioner and also untrammeled by any observations contained in this judgment.