Authority: Supreme Court of India (Civil Appellate Jurisdiction)
Order Date: 17 July 2026
Case Overview
- Parties: Axis Bank Ltd (appellant) vs Majestic Auto Limited & Anr (respondents).
- Applications: I.A. No.180843/2026 (substitution) and I.A. No.200247/2026 (withdrawal).
- Axis Bank obtained assignment of the debt through a successful public auction; a consent agreement dated 15‑07‑2026 was executed, providing for additional interest for implementation time.
- The appeal concerned Civil Appeal No.9735/2024; judges J.B. Pardiwala and K. Vinod Chandran presided; counsel for both sides listed.
- The court noted that the settlement agreement is annexed as Annexure A1 and forms part of the record.
Final Outcome
- The Supreme Court allowed I.A. No.180843/2026, directing the registry to amend the cause title to reflect Axis Bank as the appellant.
- The court permitted the withdrawal of Civil Appeal No.9735/2024, with liberty for either party to revive the matter if the settlement collapses.
- All pending applications, if any, were ordered disposed of.
Topics: Civil Appeal Withdrawal, Debt Settlement