Disposed

Central Bank of India v. Purnima Sharad Halkarni

DRAT3 Feb 2023REGULAR APPEAL/40/2022

Case brief

AI extract

What is this about?

The Tribunal dismissed the bank's appeal and observed that the auction purchaser, though the application was originally for DRT, should be told to approach DRT for refund. It directed DRT to entertain the refund application expeditiously as the bank's appeal lacked a stay.

What did the court decide?

Direction to the Debts Recovery Tribunal to entertain the auction purchaser's refund application expeditiously.

Central Bank of India versus Purnima Sharad Halkarni — Company and Corporate | DRAT (2023)

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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson

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I.A. No. 525/2022 (Refund of Sale Consideration)

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Appeal No. 40/2022

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Between

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Central Bank of India … Appellant/s V/s.

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Smt. Purnima Sharad Halkarni & Ors. …Respondent/s Mr K.B. Deshpande, Advocate for Appellant. Mr Puneet Gogad, Advocate for Respondent No.4

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-: Order dated: 03/02/2023:-

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I.A. No. 525/2022 is an application filed by Respondent No. 4 for the refund of the sale consideration which has been paid by him as auction purchaser, before the Debts Recovery Tribunal, Aurangabad(D.R.T.). The auction sale was set aside vide the impugned order of D.R.T. and the sale amount deposited was directed to be returned to the auction purchaser. The Bank is in appeal challenging the impugned order of the D.R.T., and there is no stay granted in favour of the bank preventing them from returning the amount. Since the appeal is pending, the auction purchaser has approached this Tribunal for a refund of the amount deposited by him. The application, in fact, ought to have been filed before the D.R. T. The auction purchase apprehends that his application for refund may not be entertained by the D.R.T. in view of the appeal

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pending here. There is no stay granted against the impugned order setting aside the sale. Hence, the apprehension is misplaced.

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The I.A. No. 525/2022 is disposed of with the direction that the auction purchaser is at liberty to approach D.R.T. for getting a refund of the amount or seek contempt. The application so filed before the D.R.T. shall be disposed of as expeditiously as possible. Reply has been filed on I.A. 525/2022 by the Bank but I consider that the application is to be disposed of with a direction to the D.R.T to entertain the application for a refund of money deposited by the auction purchaser, expeditiously.

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Post on 21.03.2023 for hearing.

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Sd/Chairperson

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rm-11

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Central Bank of India v. Purnima Sharad Halkarni

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Purnima Sharad Halkarni

Case brief

What is this about?

What did the court decide?

What the court decided

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