Dilip Damodar Patil v. Hinduja Leyland Finance Ltd.
Case brief
What is this about?
The tribunal disposed of the appeal and granted the appellant's request to withdraw a pre-deposit of Rs. 85 lakhs made under Section 18 of the SARFAESI Act, as the respondent raised no objection.
What did the court decide?
The pre-deposit of Rs. 85 lakhs along with accrued interest is to be returned to the appellant.
What the court decided
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
M.A. No. 04/2023 (Refund of Money) In
(Appeal on Diary No. 828/2022- Disposed of)
Between
Dilip Damodar Patil & Ors. … Appellant/s V/s. Hinduja Leyland Finance Ltd. …Respondent/s Mr Herbert A. Noronha, Advocate for Appellant.
Mr Sanjay Anabhawane, Advocate for Respondent.
-: Order dated: 17/01/2023:-
The Appeal has been disposed of. The Appellant had deposited a sum of Rs. 85 lakhs as pre-deposit u/s 18 of the SARFAESI Act. Since the Appeal was disposed of on 19.12.2022. The Appellant seeks to withdraw the amount in the deposit.
The notice has been served on the Respondent. There is no objection forthcoming. Hence, the application is allowed.
The Registry is directed to return the amount together with the accrued interest to Appellant No.2 on proper acknowledgement.
Issues for consideration
1 issue framed by the court
Whether the application for withdrawal of pre-deposit made under Section 18 of the SARFAESI Act after disposal of the appeal should be allowed.
Parties & counsel
- appellant
Dilip Damodar Patil & Ors.
- respondent
Hinduja Leyland Finance Ltd.
Coram
Ashok Menon
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · January
- CNR
- 271090008282022
- Topic
- Banking and Recovery
All orders in this case
3 orders share this CNR
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