Allowed
Ms Gayatri Food Products v. Kotak Mahindra Bank Limited
DRATMISC APPLICATION/31/2025
Case brief
AI extract
What is this about?
Respondent Bank reported no objections. In view of the disposal of the Misc. Appeal, the Tribunal held that the pre-deposit amount is not a secured asset, no security interest was created and there is no attachment in any proceedings under Section 13(10) of the Act read with Rule 11 of the Security Interest (Enforcement) Rules, 2002., the Tribunal allowed the Application and directed the Registrar
What did the court decide?
The application was allowed and the Registrar was directed to refund the amount of Rs.20 Lakhs with accrued interest.