The Debt Recovery Appellate Tribunal disposed of the appeal seeking withdrawal of predeposit of ₹ 42.50 lakhs and accrued interest, allowing release to the bank upon proper acknowledgement, affirming undertakings before the DRT.
Release of the amount lying in deposit with accrued interest to the respondent bank on proper acknowledgement.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson M.A. No. 14/2024(Refund of Amount)
In
(Appeal on Diary No. 1603/2023-Disposed of) Between
Deep Motors Gallery & Ors. … Appellant/s V/s.
The RBL Bank Ltd.
…Respondent/s
The appellant is present in person.
Ms. Meenu P., i/b M/s. M.V. Kini & Co., Advocate for Respondent. -: Order dated: 05/02/2024:-
The matter is taken up for hearing by way of a praecipe filed by Appellants for seeking urgent relief.
The secured creditor bank which is the Respondent in these Misc. Appeal has filed this application for withdrawal of the predeposit amount of ₹ 42.50 lakhs together with the accrued interest to be released to the bank as undertaken by the Appellant before the Debts Recovery Tribunal – III, Mumbai (D.R.T) in the S.A.
The affidavit filed by the Appellant present in person today is also produced for perusal in which he has undertaken that the amount lying in deposit in this Tribunal together with the accrued interest may be released to the bank for appropriation towards the debt as undertaken before the DRT. The DRT has also recorded such a fact on the basis that the S.A. would be finally disposed of on payment of the balance amount.
Hence, the application is allowed and the amount lying in deposit before this Tribunal together with the accrued interest shall
1
be released to the Respondent bank on proper acknowledgement.
Accordingly, M.A. No. 14/2024 is disposed of.
Sd/-
rm-27
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Deep Motors Gallery & Ors.
The RBL Bank Ltd.
Ashok Menon
As recorded by the court registry
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