ITA dismissed on 09.07.2024 for non-compliance with further instalments. Appellant seeks refund of ₹25 lakhs pre-deposit. Application allowed; amount with interest to be refunded to appellant No. 1.
Application allowed; amount lying in deposit together with accrued interest to be refunded to appellant No. 1 on proper acknowledgement.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr. Justice Ashok Menon, Chairperson
M.A. No.86/2024
In
(Appeal on Diary No.572/2024-Disposed of)
Between
M/s. Gajalee Coastal Food Pvt. Ltd. & Ors. … Appellant/s V/s.
Karnataka Bank Ltd. …Respondent/s
Mr Harjot Singh Alang i/b M/s. Raval-Shah & Co., Advocate for Appellant.
-: Order dated: 04/10/2024:-
The matter is taken up for hearing by way of a praecipe filed by the appellant for seeking urgent relief.
The appeal was dismissed on 09.07.2024 for non-compliance with the further instalments of pre-deposit. The appellants had deposited ₹25 lakhs towards the first instalment. This application is filed for a refund of that amount given the dismissal of the appeal.
Notice has been served on the respondent but none appeared. There is no attachment or lien over the amount. Hence, the application is allowed and the amount lying in the deposit together with the accrued interest shall be refunded to appellant No. 1 on proper acknowledgement.
Sd/-
Chairperson
mks-24
1
1 issue framed by the court
Whether an application for refund of deposited amount towards pre-deposit pending appeal should be allowed after dismissal of the appeal.
M/s. Gajalee Coastal Food Pvt. Ltd. & Ors.
Karnataka Bank Ltd.
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
