In Misc. Appeal No. 112/2024, the Debt Recovery Appellate Tribunal allowed the refund of pre-deposit including accrued interest to the first appellant, citing lack of lien or attachment over the amount.
Refund of pre-deposit amount with accrued interest to the 1st appellant on proper acknowledgement.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson M.A. No. 112/2024 (Refund) In
(Misc. Appeal on Diary No. 311/2024-Disposed of)
Between
M/s. MM International & Ors. … Appellant/s V/s.
Pegasus Assets Reconstruction Pvt. Ltd. …Respondent/s Mr Pankaj Uttaradhi, Advocate for Appellants.
An Advocate for the Respondent appeared.
The matter is taken up for hearing by way of a praecipe filed by the appellants for seeking urgent relief.
This is an application filed by the appellants for a refund of the amount of pre-deposit deposited for entertaining this appeal. The respondent has appeared and the application is opposed stating that there are huge arrears yet to be paid. In view of the decision of the Hon’ble Supreme Court and in view of the fact that there is no lien or attachment over the amount, the application is allowed and the amount shall be refunded together with the accrued interest to the 1st appellant on proper acknowledgement.
nrp- 08
1
1 issue framed by the court
Whether the application for refund of pre-deposit is allowable despite outstanding arrears.
M/s. MM International & Ors.
Pegasus Assets Reconstruction Pvt. Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
