M/S. Trans Gel Industries Limited v. The Debts Recovery Appellate Tribunal

THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN AND THE HON'BLE SMT JUSTICE KONGARA VIJAYA LAKSHMI WRIT PETITION NO.13359 OF 2018 ORDER: {Per the Hon'ble Sri Justice Ramesh Ranganathan} Both Smt. V.Dyumani, learned counsel for the petitioner and Sri R.Rajendra Prasad, learned counsel for the second respondent would agree that a One-Time Settlement offer was made by the second respondent, by their letter dated 01.08.2018; the said proceedings records the petitioner having paid Rs.1,00,00,000/-; in terms of the One-Time Settlement offer made, in the said letter dated 01.08.2018, the petitioner is required to pay the balance Rs.13,00,00,000/- in instalments on 31.10.2018, 31.12.2018, 31.01.2019 and 28.02.2019; and, in the light of the One-Time Settlement offer in letter dated 01.08.2018, the cause in this Writ Petition no longer survives necessitating any further adjudication by this Court.

The Writ Petition is, accordingly, dismissed as infructuous. There shall be no order as to costs. Miscellaneous petitions, if any, pending shall stand dismissed.

_______________________________ (RAMESH RANGANATHAN, J) __________________________________ (KONGARA VIJAYA LAKSHMI, J) 23rd August 2018 RRB