The Tribunal allowed an application for refund of a ₹ 1 crore pre-deposit. Since the amount was not attached or liable to the respondent bank, the Tribunal ordered its return along with accrued interest upon proper acknowledgement.
Return of the deposited sum of ₹ 1 crore along with accrued interest to the appellant on proper acknowledgement.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson M.A. No. 110/2023(Refund of Deposit)
In
(Appeal on Diary No.332/2023-Disposed of) Between
Abhinav Education Society … Appellant/s V/s. Bank of Baroda …Respondent/s
Mr. Kushal Sawant, Advocate for Appellant. Shama S., i/b Ms. Rathina Maravarman, Advocate for Respondent Bank.
-: Order dated: 12/12/2023:-
The Appellant had deposited a sum of ₹ 1 crore as part of the pre-deposit ordered to be deposited by this Tribunal vide order dated 07.06.2023. The balance amount was not paid which resulted in the dismissal of the appeal. The Appellant has now filed this application for a refund of the amount deposited.
Notice has been served to the Respondent. No objection is forthcoming. There is no attachment or lien over the amount and hence, the amount together with the accrued interest shall be returned to the Appellant on proper acknowledgement
The application is allowed.
rm-2
1
1 issue framed by the court
Whether the pre-deposit of ₹ 1 crore made under the order dated 07.06.2023 is refundable since the appeal was dismissed due to non-payment of the balance amount.
Abhinav Education Society
Bank of Baroda
Ashok Menon
As recorded by the court registry
2 orders share this CNR
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