In an application for refund of security money deposited under Section 21 of the RDB Act, the Chairperson allowed the request relying on the Supreme Court judgment in Axis Bank vs SBS Organics, directing the respondent institution to refund the amount to the appellant.
Application for refund of money deposited under Section 21 of the RDB Act allowed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 443/2022 In MA 220/2017
Ds Ramadoss Vs Arcil And 4 Others
02/11/2022
This Application is filed seeking refund of money deposited under Section 21 of RDB Act, 1993, for entertaining the Appeal.
Advocate for Appellant submitted that final Order is passed in the Appeal on 10.08.2022, to which Appeal is dismissed, and Appellant is entitled for refund of said amount.
Notice of this Application is taken, and in spite of service, neither Respondent No.1 Institution nor its Advocate is present.
Considering the reasons stated in the Application, and in view of judgement of Hon’ble Supreme Court in AXIS BANK Vs SBS ORGANICS PRIVATE LIMITED AND ANR., in Civil Appeal No. 4379 OF 2016 (Arising out of SLP (C) No. 13861/2015) , Appellant is entitled for refund of amount.
For above reasons, IA 443/2022 is allowed, as prayed for.
Sd/Chairperson
1 issue framed by the court
Whether the appellant is entitled to a refund of money deposited under Section 21 of the RDB Act following the dismissal of the appeal.
Colour shows how this judgement treated each authority
AXIS BANK Vs SBS ORGANICS PRIVATE LIMITED AND ANR.Relied on¶8
AXIS BANK Vs SBS ORGANICS PRIVATE LIMITED AND ANR., in Civil Appeal No. 4379 OF 2016 (Arising out of SLP (C) No. 13861/2015)
1 provisions across 1 enactments
Ds Ramadoss
Arcil And 4 Others
Chairperson
As recorded by the court registry
8 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
