Debt Recovery Appellate Tribunal allowed the refund of pre-deposit. Held that pre-deposit is neither secured debt nor security interest and without an attachment order under Section 13(10) of SARFAESI Act, refund is due to the appellant.
Registry directed to refund pre-deposit amount along with accrued interest.
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DEBT RECOVERY APPELLATE TRIBUNAL-MUMBAI (SITTING AT -CHENNAI)
M.A. No. 51/2025 (Refund of Pre-Deposit) In (Misc. Appeal No. 93/2025-Disposed of)
Dated: 07.08.2025
The ;matter is taken up for hearing by way of a Praecipe filed by the Petitioner/Appellant for seeking urgent relief.
This Application is filed for refund of pre-deposit, deposited at the time of entertaining the Misc. Appeal 93/2025.
It is the submission of Learned Counsel for Petitioner/Appellant that the aforesaid Appeal was disposed of on 08.07.2025, and therefore, this Application.
Learned Counsel for Respondent No.l Bank opposes this petition on the ground that this Petitioner/Appellant is borrower’s son, and still there is amount due from the borrower. It would be better if this amount is apportioned towards the loan amount.
Considered the rival submissions and perused the records.
Pre-deposit amount is neither a secured debt nor security interest has been created on this amount. There is no order of attachment under Section 13(10) of the SARFAESI Act, 2002, in the proceedings. Therefore, Petitioner/Appellant is entitled for refund of the amount.
Under the said circumstances, this Application in M.A. No. 51/2025 is allowed. Registry, DRAT, Mumbai is directed to refund the pre-deposit amount along with accrued interest, if I any, as prayed for.
’CHAJRPERS0N^MCcf2:NNAl (iN-CHARGE. DRAT, MUMBAI)
PAM
1 issue framed by the court
Whether a pre-deposit made for a miscellaneous appeal is liable to be returned when the underlying appeal was disposed of and no attachment order was passed.
1 provisions across 1 enactments
Appellant/Petitioner
Respondent No.1 Bank
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
