# Rajesh Bansal & Anr. vs. Axis Bank Ltd. & Anr.

> NCLAT judgment dated 2026-08-14. Citation: TCN-2026-NCLAT-00247. This NCLAT order is a continuation of a previous order, addressing an appeal where Appellants…

- **Court:** NCLAT
- **Order date:** 14 Aug 2026
- **Citation:** TCN-2026-NCLAT-00247
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rajesh-bansal-anr-vs-axis-bank-ltd-anr-muk5o

## Summary

### Background

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.

## Facts

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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## Issues and analysis

### Issue 1: Whether the Appellants' settlement efforts with the …

**Ratio:** The NCLAT acknowledges the appellant's claim of settlement efforts but notes the

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**Reasoning:** The court observes conflicting statements regarding settlement and the pendency of

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**Interpretation:** The court is taking a cautious approach, not fully endorsing the settlement

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**Application:** The court directs the appellant to continue efforts for an amicable solution

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## Parties

- **Judges:** Yogesh K…; Barun M…; +1 more
- **Appellants:** Rajesh Bansal &…
- **Respondents:** Axis Bank Ltd. &…
- **Other parties:** Axis Ban…
- **Advocates:** Samar B…; Ashim Va…; +5 more

## Timeline

- **17.07.2026 — OTS Prop…**: An One Time Settlement (OTS)…
- **03.08.2026 — OTS Proposal R…**: The OTS proposal dated…

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