Application for refund of statutory deposit allowed. Registry directed to refund amount with accrued interest following settlement and delivery of possession between parties.
Registry to refund the deposited amount with accrued interest, if any.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 526/2023 in RA (SA) 9/2023
Royal Medical Trust &Ors Vs Canara Bank
14/12/2023
This application is filed seeking refund of statutory deposit.
Heard both sides.
Advocate for appellants submitted that matter is settled between parties and possession is also delivered. Advocate for respondent bank submitted that this amount has to be paid to the respondent bank as per compromise and has no objection in releasing the pre-deposit.
Considering the reasons stated in affidavit filed in support of the petition, this 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 statutory deposit should be refunded upon settlement of the matter.
Royal Medical Trust & Ors
Canara Bank
Chairperson
As recorded by the court registry
28 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
