Allowed

Vinod Nimnath Sonar v. the Authorized Officer Bank of Baroda and Ors.

DRAT25 Apr 2025MISC APPLICATION/33/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the application for refund of pre-deposit of Rs. 4.25 Lakhs. The Court held that since the appeal was disposed of, the amount is not a secured asset and no security interest or attachment existed under the relevant Act and Rules.

What did the court decide?

Application allowed; Registrar directed to release the refund amount along with accrued interest to the appellant's bank account.

Vinod Nimnath Sonar versus the Authorized Officer Bank of… — Banking and Recovery | DRAT (2025)

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DEBT RECOVERY.APPELLATE'TRiBUNAlMUMBAI (SITTING AT -CHENNAI) M;A> No. .33/2025 .(Refund of Deposit) (Regular Appeal No. 247/20 IG^Disihissed) Dated: 25.04.2025 The .matter is taken up for hearing by 'Wdy of. a Praecipe Tiled by the Petitioner/Appellant, for seeking urgent feliefi this Application is filed .see'kihg .refund pf pre:deposit. It .is the submission of Learned Counsel for ; the Petitioher/Appellant that the Petitioner/Appellant filed the' Appeal, in Regular Appeal No. 247/2016 against order passed, by the DRT-Aurangabad, in MA. No. 15/2012. The Application filed for condoning delay of 4'59. .days in filing the Securitisatidn Application .was dismissed. ' At the time of filing the’ Appeal > the Petitioner/Appellant made deposit of Rs.4.25* Lakhs, for entertaining the Appeal, The Appeal-was . finally disposed of on 18.11.2024 . In the said circumstances, this Application is filed for refund of pre-deposit.

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The let Respondent Bank has no serious

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objection for allowing this Application.

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In view of the disposal of the Regular Appeal No.247/2016, this Tribunal is of the view that the Petitioner/Appellant is entitled for refund of the pre- deposit because this amount is not a secured asset, no security interest is 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.

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In view of the same, the Application in M.A. No. 33 of 2025 is allowed. Registrar, DRAT, Mumbai, is directed to release the amount with accrued interest, if any, in the following Account

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Name	Vinod Nimnath Sonar
Bank Name	ID 131 Bank
Account No.	0490104000066352-
IFSC Code	IBKL0000482

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CHAIRPERSON, DRAT' CHENNAI (IN-CHARGE, DRAT. MUMBAI)

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MKS

Vinod Nimnath Sonar v. the Authorized Officer Bank of Baroda and Ors.

Case brief

What is this about?

What did the court decide?

Vinod Nimnath Sonar v. the Authorized Officer Bank of Baroda and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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