The Tribunal allowed the Respondent Bank's appeal to withdraw funds deposited with the Tribunal, which were to be appropriated towards the debt due from the Appellants.
Released the amount in deposit along with accrued interest to the Respondent Bank on due acknowledgement.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
M.A. No. 51/2023 (Withdrawal of Amount)
In
(Appeal on Diary No. 434/2022-Disposed of)
Between
M/s Shree Ram Rayon & Ors. … Appellant/s V/s.
Authorised Officer, Tamilnad Mercantile Bank Ltd. …Respondent/s
Mr Vishal Tambe, i/b Mr D. D. Chauhan, Advocate for Appellants. Mr Shaikh Sameer, i/b M/s Consulta Juris, Advocate for Respondent Bank.
-: Order dated: 10 /05/2023:-
The matter is taken up for hearing by way of praecipe dated 26.04.2023 filed by the Respondent seeking urgent relief.
M.A. No. 51 of 2023 filed by the Respondent Bank for releasing the amount in deposit before this Tribunal to it. The appeal has been disposed of and the Appellants have filed an affidavit stating that they have no objection to the amount being withdrawn by the Bank for appropriation towards debt due.
Accordingly, the M.A. is allowed and the amount in deposit together with interest accrued shall be released to the Respondent Bank on due acknowledgement.
mks- 5
1
M/s Shree Ram Rayon & Ors.
Authorised Officer, Tamilnad Mercantile Bank Ltd.
Ashok Menon
As recorded by the court registry
5 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
