M/s Sr Trading and others v. Bank of Baroda
Case brief
What is this about?
The Appellate Tribunal allowed an application by the applicants for the release of pre-deposit amount of Rs. 12.50 lacs. The court acknowledged the decision of the lower appeal and ordered the release of the deposited funds with accruing interest within 15 days.
What did the court decide?
Release of deposited amount of Rs. 12.50 lacs with accrued interest within 15 days from the date of order.
What the court decided
M.A. No. 19/2024 In Appeal Dy. No. 1509/2023 Date: 05.02.2024
M/s S R Trading Company & Ors. Vs. Bank of Baroda & Ors.
Present : Shri Shadab Alam, counsel for the applicant, Shri Avinash Jaiswal, counsel for the respondent-Bank,
Heard the learned counsels for the parties on the application for release of amount.
Learned counsel for the applicant contends that the applicants had deposited a sum of Rs. 12.50 lacs towards pre-deposit for maintaining the appeal. It is further contended that the appeal has been dismissed vide order dated 29.11.2023, it is therefore, prayed that the amount deposited by the applicant may be released.
Learned counsel for the respondent-Bank submits that he has no objection to the prayer made by the applicant.
In view of the above, the application for release of amount is allowed and the Registrar of this Appellate Tribunal is directed to release the amount deposited towards pre-deposit along with interest accrued in favour of the applicant no. 3 within 15 days from today.
Justice R. D. Khare Chairperson
Anupam
Parties & counsel
- applicant
M/s S R Trading Company & Ors.
- respondent
Bank of Baroda & Ors.
Coram
R. D. Khare
Case details
As recorded by the court registry
- Court
- DRAT
- Decided on
- · February
- CNR
- 091090015092023
- Topic
- Banking and Recovery
All orders in this case
3 orders share this CNR
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