AJR Infra & Tolling Ltd. filed an appeal against an order dated 09.05.2024 admitting a Section 7 application by Canara Bank. The appellant had presented a letter dated 08.05.2024 indicating an OTS offer, requiring a deposit of Rs.45 crores. The bank communicated this on 13.05.2024, and the appellant deposited Rs.45 crores. On 15.05.2024, the appellant assured the Tribunal of compliance with the OTS, leading to a stay of the impugned order. The appellant's counsel submitted that the entire payment had been made in lieu of the OTS. This submission was crucial to the court's decision to dispose of the appeal.

AJR Infra & Tolling Ltd. filed an appeal against an order dated 09.05.2024 admitting a Section 7 application by Canara Bank. The appellant had presented a letter dated 08.05.2024 indicating an OTS offer, requiring a deposit of Rs.45 crores. The bank communicated this on 13.05.2024, and the appellant deposited Rs.45 crores. On 15.05.2024, the appellant assured the Tribunal of compliance with the OTS, leading to a stay of the impugned order. The appellant's counsel submitted that the entire payment had been made in lieu of the OTS. This submission was crucial to the court's decision to dispose of the appeal.