The Appellate Tribunal allowed an application for refund of a statutory deposit after the main appeal was dismissed as 'not pressed' following an out-of-court settlement. The Registry was directed to refund the amount with accrued interest if any.
Registry directed to refund the deposited amount with accrued interest if any.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
IA 306/2023
in RA (SA) 35/2021
Kc Balasundaram And Anr Vs Icici Bank Ltd.
02/08/2023
This application is filed seeking refund of statutory deposit.
Heard both sides.
It is represented that matter is settled out of court and as main Appeal viz., RA(SA) 35/2021 is dismissed as ‘not pressed’ on 21.6.2023, appellants are entitled for refund of pre-deposit made as per orders of this Tribunal dated 15.2.2021 in IA 556/2017 (Waiver).
Considering the reasons stated in the affidavit filed in support of the petition, 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 appellants are entitled to refund of statutory deposit upon settlement and dismissal of main appeal as not pressed.
Kc Balasundaram And Anr
Icici Bank Ltd.
Chairperson
As recorded by the court registry
16 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
