The Tribunal allowed the application to refund the pre-deposit amount and accrued interest to the appellants, as the underlying appeal restoration application was withdrawn following a settlement with the respondent.
Refund of the pre-deposit amount along with accrued interest to Appellant No.2 on proper acknowledgement.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson
M.A. No.100/2024 (Refund) In
(Appeal on Diary No.820/2024 – Disposed of)
M/s. Almas Traders & Ors. … Appellant/s V/s.
Nagpur Nagarik Sahakari Bank Ltd.
Mr Radhe Agrawal, Advocate for Appellants.
Mr Sanjay Anabhawane, Advocate for Respondent.
The matter is taken up for hearing by way of a praecipe filed by the appellants for seeking urgent relief.
This i s an application filed by the appellants for withdrawing the predeposit amount which was deposited by them for entertaining the appeal. The appeal was dismissed for default in depositing the entire amount of pre-deposit on time. An application was filed for restoration of that appeal. The Ld. Counsel appearing for the appellants submits that the matter has now been settled and that the application for restoration is not being pressed. Hence, they seek a refund of the amount which is already deposited.
Notice has been given to the respondent. There is no attachment or lien over the amount. Given the settlement arrived at, the application is allowed and the amount lying in deposit together with the accrued
1
interest shall be released to appellant No.2 on proper acknowledgement.
Sd/Chairperson
nrp-16
2
1 issue framed by the court
Whether the pre-deposit amount and accrued interest should be refunded upon settlement and withdrawal of the appeal restoration application.
M/s. Almas Traders & Ors.
Nagpur Nagarik Sahakari Bank Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
