This application for refund of statutory deposit was allowed. The Chairperson held that the appellant is entitled to the refund of pre-deposit with accrued interest, relying on the Supreme Court decision in Axis Bank versus SBS Organics.
Refund of deposited amount with accrued interest to be made by the Registry.
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 28/2023
in
RA (SA) 120/2017
C Soundarrajan Vs A.O., Indian Overseas Bank And 3 Others
18/08/2023
This application is filed seeking refund of statutory deposit made as per orders of this Tribunal dated 14.6.2017 in IA 916/2015 (Waiver).
Main case viz., RA(SA) 120/2017 is disposed of, on 14.3.2023. As per decision of Hon’ble Supreme Court of India in re , Axis Bank Vs. SBS Organics Private Limited and another in Civil Appeal No.4379/2016 (arising out of SLP (C) No.13861/2015), appellant is entitled for refund of pre-deposit.
Considering the request made in the application, application is allowed as prayed for and Registry shall refund the deposited amount with accrued interest, if any.
Sd/Chairperson
1 issue framed by the court
Whether the appellant is entitled to refund of statutory deposit made prior to表示自己 of arbitral proceedings or writ petition as per Supreme Court judgment in Axis Bank case.
Colour shows how this judgement treated each authority
Axis Bank Vs. SBS Organics Private Limited and anotherReferred¶8
Axis Bank Vs. SBS Organics Private Limited and another in Civil Appeal No.4379/2016 (arising out of SLP (C) No.13861/2015)
C Soundarrajan
A.O., Indian Overseas Bank
Chairperson
As recorded by the court registry
19 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
