Supreme Court - Daily Orders
Kotak Mahindra Bank Ltd vs M/S Sivanandha Limited Steels on 6 April, 2026
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO…………...2026
(Petition for Special Leave to Appeal (C) No.20707/2025)
KOTAK MAHINDRA BANK LTD APPELLANT(S)
VERSUS
M/S SIVANANDHA LIMITED
& STEELS ANR. RESPONDENT(S)
O R D E R
1. Leave granted.
2. This appeal arises from the order passed by the High Court dated 17.06.2025 in Writ Petition No.32574/2024 by which the writ petition filed by the respondents came to be allowed thereby quashing the order passed by the Debt Recovery Appellate Tribunal (for short, “the DRAT”).
Signature Not VerifiedDigitally signed by CHANDRESH Date: 2026.04.09 17:42:14 IST Reason: 1
3. The bank, being dissatisfied with the impugned order passed by the High Court is here before us with the present appeal.
4. On 14.11.2025, this Court passed the following order:-
“1. Our order dated 22.08.2025 reads thus:
“1. This petition arises from the judgment and order passed by the High Court of Judicature at Madras dated 17.06.2025 in WP No. 32574/2024 with WMP Nos. 35402 and 35403 of 2024 respectively by which the High Court allowed the writ petition filed by the respondents herein and thereby quashed and set aside the order passed by the DRAT and DRT respectively.
2. We heard Mr. Rajiv Shakdher, the learned senior counsel appearing for the petitioner and Mr.Alok Dev, the learned counsel appearing for the respondents.
3. The entire issue revolves around the question whether the lease facility stood covered under the Scheme or not. Manifold contentions have been raised on either side.
4. Having regard to the peculiar facts and circumstances of this litigation, we are of the view that the parties should go for mediation and try to resolve the entire dispute once and for all.
5. In view of the aforesaid, we appoint Hon’ble Mr. Justice Sudhanshu Dhulia, former Judge of this Court to act as a Mediator between the parties.2
6. The fees of the Learned Mediator shall be fixed in consultation with the parties. We request the learned Mediator to forward his report within a period of 08(eight) weeks from today.
7. All other emoluments to be fixed by the learned Mediator in consultation with the parties.
8. Registry to inform about this order to the learned Mediator at the earliest.
9. So far as the impugned order of the High Court imposing costs of Rs.1,00,000/-(Rupees one lakh only) on the petitioner is concerned, the same shall remain stayed from its operation till further order. 10. Once the mediation report is received, the registry shall post this matter for further hearing.”
2. In pursuance of our order referred to above, the parties appeared before Hon’ble Mr. Justice Sudhanshu Dhulia, Former Judge, Supreme Court of India, who acted as a Mediator. The learned Mediator has been able to bring around the settlement between the parties. The Mediation report dated 16.09.2025 is on record.
3. In accordance with the settlement, M/s Sivanandha Steels Limited and Anr., the respondents before us have agreed to pay an amount of Rs.1,20,00,000/-(One Crore and Twenty Lakh Only) as full and final settlement to the Bank. This amount is to be paid to the bank on before 21.03.2026.
4. The Mediation Report be taken on record.
5. Post this matter in the first week of April, 3 2026. Once the entire amount is duly paid, we shall proceed to pass a final order.”
5. Today, when the matter was taken up hearing, the learned counsel appearing for the parties brought to our notice that the mediation has been successful.
6. The respondents have paid a total amount of Rs.1,20,00,000/- (Rs.One crore twenty lakh only) to the bank.
7. The learned counsel appearing for the bank would submit that the amount has been received from the respondents and the no due certificate has also been issued.
8. In such circumstances, referred to above, nothing further requires to be adjudicated.
9. The impugned order passed by the High Court is set aside.
10. However, the questions of law are kept open.
11. With the aforesaid, the appeal is allowed. 4
12. Pending application(s), if any, stands disposed of.
...................J. [J.B.PARDIWALA] ...................J. [K.V. VISWANATHAN] New Delhi 06th April, 2026.
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ITEM NO.25 COURT NO.7 SECTION XII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition for Special Leave to Appeal (C) No.20707/2025
[Arising out of impugned final judgment and order dated 17-06-2025 in WP No. 32574/2024 passed by the High Court of Judicature at Madras] KOTAK MAHINDRA BANK LTD Petitioner(s) VERSUS M/S SIVANANDHA LIMITED STEELS & ANR. Respondent(s) [INTERIM MEDIATION REPORT RECEIVED] IA No. 178799/2025 - EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT Date : 06-04-2026 This matter was called on for hearing today. CORAM :
HON'BLE MR. JUSTICE J.B. PARDIWALA HON'BLE MR. JUSTICE K.V. VISWANATHAN For Petitioner(s) :Mr. M. Yogesh Kanna, AOR Ms. Meha Ashok Aggarwal, Adv. Mr. Aman Sinha, Adv.
For Respondent(s) :Mr. Alok Dhir, Adv.
Ms. Varsha Banerjee, Adv.
Mr. Kanishk Khetan, AOR UPON hearing the counsel the Court made the following O R D E R 6
1. The appeal is allowed in terms of the signed order.
2. The relevant part of the signed order is as under:-
“The impugned order passed by the High Court is set aside.
However, the questions of law are kept open.”
3. Pending application(s), if any, stands disposed of.
(CHANDRESH) (POOJA SHARMA) ASTT. REGISTRAR-cum-PS COURT MASTER (NSH)
(Signed order is placed on the file) 7