TaxTMI 
TaxTMI 
2025 (3) TMI 1239
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.... before the NCDRC was for quashing of the loan recall notice issued by the Bank alleging unfair trade practices and violation of Reserve Bank of India RBI guidelines. 2. We need not mention detailed facts as the same have been appropriately recorded in two orders of this Court dated 23.10.2024 and 06.11.2024. In the order dated 23.10.2024, broadly, the settlement had been arrived at, however, instructions were to be taken on certain issues, for which time was granted. Finally, in the order dated 06.11.2024 all the terms of the settlement with respect to all the four appeals had been recorded. Both the orders as such are reproduced hereunder: - "ORDER ( DATED : 23.10.2024 ) 1. Learned senior counsel appearing for the ICICI Bank Ltd. (for short, 'the Bank') has submitted a chart showing the outstanding amount payable by the appellants as on 16.10.2024. The details of which are as under : Case No. Outstanding Principal (INR) Total Interest including PEMI (INR) Outstanding Charges (INR) Total Receivable (INR) As on 16.10.2024 CA 1708/2023 Akshay & Anr. vs. ICICI Bank Ltd. & Ors. 1,26,35,131.00 57,09,527.00 29,71,443.33 2,13,16,101.33 ....
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....by the appellants to the Bank adjusted against the said 5% balance sale consideration. 7. In Civil Appeal 1709 of 2023, it is stated that the appellants have already settled the matter with the Bank and as the Bank has already received its entire settlement amount, it would issue NOC upon closure of the present pending appeal. 8. Two issues which survive in Civil Appeal No.1709 of 2023 is between the Builder and the appellants. As, according to the learned counsel for the appellants, the appellants have also paid certain amount towards pre- EMI against the default of the Builder, and have also paid the outstanding pre-EMI on the date of the settlement after receiving 30% discount from the Bank, and would like an adjustment and/or paid by the Builder of both the amounts of pre-EMI against the balance 5% sale consideration to be paid to the Builder. On this aspect also, learned counsel appearing for the Builder, shall obtain instructions. 9. Learned counsel appearing for the appellants will provide the details to the Builder about the pre-EMI amount paid by the appellants to the Bank, within a week from today, so that the Builder may obtain instructions on ....
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.... 2,92,16, 435.55 1,85,38,4 53.00 74,83,52 4 .00 52,38,46 6 .80 37,41,762 .00 14,96,70 4. 80 2,00,35,157.8 2,37,76,91 9 .80 Civil Appeal 2828/20 23 Jignesh Tapiawala Vs ICICI Bank Limited 2,61,89, 495.27 1,66,55,2 59.00 67,41,49 7 .00 47,19,04 7 .90 33,70,748. 50 13,48,29 9. 40 40 1,80,03,558.4 0 2,13,74,30 6 .90 3. Learned counsel appearing for the Builder Shri Viraj Kadam, upon instructions, has stated that the Builder will pay the outstanding amount of pre-EMI, as mentioned in the above chart, latest by 20th December, 2024. Further, the learned counsel for the borrowers-appellants in the above three appeals, upon instruction, have stated that they will pay the outstanding amount payable by them, as indicated in the above chart, to the respondent-Bank within a week from the date the Builder makes the deposit with the Bank, as indicated above. 4. Learned counsel for the Bank has submitted that as the interest is calculated up to 30th November, 2024, the parties may be directed to make the deposit accordingly on or before the said date or otherwise, the Bank may submit a fresh Chart with interest calculated up to 31....
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.... 9. It is also directed that the Bank, upon receiving the entire amount, shall issue the NOC to the Borrowers-appellants forthwith in all the four cases. 10. List these appeals on 8th January, 2025." 3. When the matter was taken up on 09.01.2025, learned counsel for the parties had informed us that all the directions contained in order dated 06.11.2024 have been complied with by the parties. Accordingly, two weeks' time was granted to the appellants to file the relevant documents relating to proof of deposits and the No Dues Certificate to be issued by the Bank to enable the Court to pass the final orders and conclude the proceedings. All the four appellants filed their affidavits before 23.01.2025 when orders were reserved. 4. We have perused the affidavits and we find that full compliance of the terms and conditions undertaken by the three parties has been done satisfactorily. The Bank had extended the discounts, the builder had discharged its obligations of payment of its share of pre-EMI and the borrowers had discharged their obligations by making the deposits with the Bank of the outstanding amount and also paying to the builder the 5% of the sale conside....