This NCLAT order is a continuation of a previous order, addressing an appeal where Appellants (Rajesh Bansal & Anr.) are attempting to settle a matter with Axis Bank Ltd. & Anr., identified as a Financial Creditor. There is a dispute regarding the actual interest due, which is also pending before the Delhi High Court. Different figures for the outstanding default amount have been presented at various stages, and an earlier One Time Settlement (OTS) proposal was rejected.
This order is passed in continuation of the order dated 12.08.2026.
The Appellants claim to be actively involved in settling the matter with the Financial Creditor, Axis Bank Ltd.
The Learned Counsel for Axis Bank Ltd. denies the Appellants' claim of active settlement.
The issue of actual interest due is pending before the Ld. High Court of Delhi in W.P. (C) No.6802 of 2026.
The next date for the High Court petition is 28.09.2026.
The Respondent's counsel submits that before the Ld. High Court, an amount of Rs.3.80 Crores was admitted for deposit in three installments.
Paragraph 25 of the reply filed by the Appellant in the impugned order stated the amount of default was Rs.4,46,33,447.06/-.
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An One Time Settlement…
The OTS propos…
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This NCLAT order is a continuation of a previous order, addressing an appeal where Appellants (Rajesh Bansal & Anr.) are attempting to settle a matter with Axis Bank Ltd. & Anr., identified as a Financial Creditor. There is a dispute regarding the actual interest due, which is also pending before the Delhi High Court. Different figures for the outstanding default amount have been presented at various stages, and an earlier One Time Settlement (OTS) proposal was rejected.
This order is passed in continuation of the order dated 12.08.2026.
The Appellants claim to be actively involved in settling the matter with the Financial Creditor, Axis Bank Ltd.
The Learned Counsel for Axis Bank Ltd. denies the Appellants' claim of active settlement.
The issue of actual interest due is pending before the Ld. High Court of Delhi in W.P. (C) No.6802 of 2026.
The next date for the High Court petition is 28.09.2026.
The Respondent's counsel submits that before the Ld. High Court, an amount of Rs.3.80 Crores was admitted for deposit in three installments.
Paragraph 25 of the reply filed by the Appellant in the impugned order stated the amount of default was Rs.4,46,33,447.06/-.
…An One Time Settlement…
The OTS propos…
Sign in to view related legal provisions.