PNP 1 WP4342-9.9.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.4342 OF 2011 State Bank of India, SARC, Mumbai ..Petitioner. versus M/s.Ishita Textiles Pvt. Ltd. and Others ..Respondents. ..... Mr. Atul G. Damle with Mr. S.J. Bhambhalani and Ms. Ashwini Patil i/b S.J. Bhambhlani & Co. for the Petitioner. Mr. Arif Y. Bookwala, Senior Advocate with Mrs. D.B. Raghani i/b Haridas & Co. for Respondents 1 to 3 and 5 to 8. ...... CORAM : DR.D.Y.CHANDRACHUD & A. A. SAYED, JJ. 9 September 2011. P.C. : The challenge in this Petition was to a direction of the Debts Recovery Appellate Tribunal in its judgment dated 7 February 2011 to the extent that the Appellate Tribunal while dismissing an appeal filed by the Respondents, except Respondent No.4, nonetheless directed the bank to consider an OTS proposal and issued a further direction that until that was done the recovery proceedings arising out of the Original Application shall be kept in abeyance. Counsel appearing on behalf of the Petitioner states that as a matter of fact the bank has considered and rejected the OTS proposal. Counsel appearing on behalf of the Respondents has produced before the Court a communication dated 7 October 2010 of the Assistant General Manager of the State Bank of India (Stress Assets Recovery Branch) PNP 2 WP4342-9.9.sxw stating that the account was not eligible under the OTS scheme and that consequently the application could not be considered. In view of this communication it is evident that the order of the Debts Recovery Appellate Tribunal holding the recovery proceedings in abeyance would to that extent come to an end and the injunction on the recovery proceedings would stand vacated. In that view of the matter, Counsel appearing on behalf of the Petitioner does not seek any further directions in these proceedings which are accordingly disposed of. (Dr. D.Y. Chandrachud, J.) (A. A. Sayed, J.)