Adigear International vs Canara Bank on 9 March, 2021

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Delhi High Court - Orders

Adigear International vs Canara Bank on 9 March, 2021

Bench: Prateek Jalan

                   $~64
                   *    IN THE HIGH COURT OF DELHI AT NEW DELHI

                   +        W.P.(C) 3152/2021

                            ADIGEAR INTERNATIONAL                    ..... Petitioner
                                         Through: Mr. Hrishikesh Baruah and Ms.
                                                  Radhika Gupta, Advocates.

                                                       versus

                            CANARA BANK                                     ..... Respondent
                                               Through:    Ms. Deepika Raghav and Mr.
                                                           Brijesh Kumar Tamber, Advocates.

                   CORAM:
                   HON'BLE MR. JUSTICE PRATEEK JALAN

                                          ORDER

% 09.03.2021 The proceedings in the matter have been conducted through video conferencing.

1. Issue notice. Ms. Deepika Raghav, learned counsel, accepts notice on behalf of the respondent.

2. Counter affidavit may be filed within four weeks. Rejoinder thereto, if any, be filed within two weeks thereafter.

3. Ms. Deepika Raghav states that the One Time Settlement ["OTS"] dated 23.12.2020, upon which the petitioners rely, has been revoked by the respondent/Bank subsequently. The respondent/Bank is directed to place on record the documents in this regard. The respondent will also state whether they have any claim against the accounts of petitioner no.1 and, if so, the grounds thereof.

Signature Not Verified Digitally signed By:SHITU NAGPAL Signing Date:10.03.2021 19:08:36 W.P.(C)3152/2021 Page 1 of 2

4. Mr. Hrishikesh Baruah, learned counsel for the petitioner, submits that no revocation of the OTS has been communicated to the petitioners.

5. In the meantime, the petitioners will be at liberty to deposit the balance amount of Rs. 15,00,000/- payable under the OTS dated 23.12.2020, with the respondent/Bank, and the respondent/Bank may accept the same without prejudice to the aforesaid rights and contentions.

6. List on 24.05.2021.

PRATEEK JALAN, J MARCH 9, 2021 vp Signature Not Verified Digitally signed By:SHITU NAGPAL Signing Date:10.03.2021 19:08:36 W.P.(C)3152/2021 Page 2 of 2

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Delhi High Court - Orders