Madras High Court held that, Dismissal of NBW Cancellation is not Interlocutory so Revision is Maintainable u/s 397 CrPC.

(24) In view of the discussions as above, the following positions emerge:
(1) issuance of a warrant of arrest by a court under this code shall remain in force beyond the date fixed for its return, until it is cancelled or executed.
(2) since the court, which issued the warrant has the power to cancel it, it is but necessary for the person against whom a warrant of arrest had been issued to approach the said court, by his personal appearance, for its cancellation, which issued it.
(3) once a person of an offence against whom a warrant of arrest had been makes his personal appearance, with a petition for its cancellation, before the court, which issued it, it behoves on its part not to take him into custody and send him to prison immediately after his appearance; but to pass an order on such petition, forthwith, without borrowing any sort of a delay and if the order so passed ends in his favour, he shall be bound over to appear before court on an earliest date fixed for hearing or trial, as the case may as, or otherwise, he could be taken into custody forthwith and sent to prison, with a direction to the prison authorities for his production before court on the earliest date fixed for such hearing or trial and on such other dates till the trial is over, so as to enable it to proceed, with ease and grace, and without any obstruction whatever, thereby not affecting in the least his right to speedy trial, a goal to be achieved, as enshrined under article 21 of the constitution; or on his application, being presented, release him on bail, or his executing a bond for a specified sum, with sufficient number of sureties, for such sum to secure his appearance on the dates fixed for hearing or trial, as the case may be.
(4) however, a person, aggrieved by an order of refusal of the cancellation by a magistrate, who issued the same, can further agitate the same, if he so desires, by filing a revision, either under section 397 or 401 of the code, and then resort to invoke the inherent power of this court under section 482 of the code, if grounds for resortment to such a course existed; and
(5) section 482 of the code is not at all attracted for simpliciter tre – call of a warrant; but, on the other hand, it is getting attracted for execution of a warrant, by issuance of a direction to a police officer or for that matter, any other person to whom it is issued, for its immediate compliance.

Citations : [1994 CRIMES 3 991]

Other Sources :

https://www.casemine.com/judgement/in/56e669e9607dba6b53435671

NBW judgments here.