Maruti Films Pvt Ltd And Others v. Punjab National Bank

$~41 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 2319/2023 and CM APPL. Nos. 8784/2023 and 8786/2023 MARUTI FILMS PVT LTD AND OTHERS .....Petitioners Through:

Mr. Varun Garg and Nipun Gupta, Advocates.

versus PUNJAB NATIONAL BANK .....Respondent Through:

Mr. Santosh Kumar Rout, Standing Counsel with Ms. Dharna Veragi and Mr. Aditya Jha, Advocates.

CORAM:

HON'BLE MR. JUSTICE VIKAS MAHAJAN % 18.07.2025

O R D E R

1.

In the present petition, the challenge is to the impugned order dated 09.01.2023 passed by the Review Committee of the respondent Bank whereby petitioners were declared as 'willful defaulter'. 2.

Mr. Varun Garg, learned counsel appearing on behalf of petitioners submits that during the pendency of the present petition, petitioners have arrived at a settlement with the respondent Bank under the one-time settlement scheme (OTS) and in terms thereof, the Bank has decided to withdraw the impugned order of the Review Committee. 3.

Mr. S.K. Rout, learned counsel appearing on behalf of respondent Bank, on instructions, affirms the aforesaid position. He has handed over across the Bar a copy of e-mail dated 13.05.2025 stating that the loan account has been closed under the OTS and borrower has paid the entire The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 24/07/2025 at 12:23:56

OTS payment, hence, in terms of RBI guidelines, Bank is withdrawing the 'willful defaulter' action against petitioners in the present matter. The statement of Mr. Rout is taken on record and the respondent Bank shall remain bound by the same.

4.

In view of above, learned counsel appearing on behalf of petitioners seeks to withdraw the present petition.

5.

The petition is dismissed as withdrawn.

6.

Pending applications stand disposed of.

VIKAS MAHAJAN, J JULY 18, 2025/jg The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 24/07/2025 at 12:23:56