Allowed
M/S v. R Industries v Canara Bank
DRATMISC APPLICATION/40/2025
Case brief
AI extract
What is this about?
In Misc. Appeal Dy. No. 2184/2024 dismissed on 24.03.2025, the Debt Recovery Appellate Tribunal allowed an application for refund of Rs. 23 Lakhs pre-deposit made for entertaining the appeal. The court held that the deposit did not constitute secured debt under Section 13(10) of the SARFAESI Act, 2002, directing the Registry to refund the amount with accrued interest.
What did the court decide?
The application for refund of pre-deposit of Rs. 23 Lakhs along with accrued interest is granted.