THE APPELLATE TRIBUNAL :

Instant Appeal has been preferred against an order dated 28th July, 2022 passed by Learned DRT-2 Kolkata in I.A. No. 51 of 2021 in R.C. case No. 56 of 2019 (Central Bank of India Certificate Holder Bank versus Durgapur Ispat Udyog Pvt. Ltd. & Ors Certificate Debtors).

2. Feeling aggrieved by the impugned order, Appellant Bank preferred the Appeal.

3. As per facts of the case, an O.A. No. 448 of 2017 was filed by the Appellant Bank for issuance of a certificate for a sum of Rs. 32,45,92,142/- with pendente lite and future interest. A Recovery Application Diary No. 333 of 2018 against MAA Chandi Durga Cement Ltd. of sister concern of Respondent No. 1 was also filed for recovery of Rs. 27.39 crore. Pending Recovery proceedings, an OTS proposal submitted by the defendants was accepted wherein the Respondent No. 1 was to pay Rs. 12.00 crore in 12 months with interest @ 10% on reducing balance against outstanding balance of Rs. 29.55 crore. In default, it would have automatically be treated as cancelled. Two separate applications for withdrawal of the O.As were filed. A compromise decree was passed in O.A No. 448 of 2017 on 1st March, 2019. Recovery Certificate for