Allowed
Prabhatabhai Rice Mill and Ors. v. Icici Bank Limited
DRATMISC APPLICATION/70/2025
Case brief
AI extract
What is this about?
The debt recovery appellate tribunal allowed an application for refund of a pre-deposit of ₹52.00 lakhs. It held that since no attachment order was passed under Section 13(10) of the SARFAESI Act, the amount was not a secured debt, warranting refund with interest.
What did the court decide?
Registry directed to refund pre-deposit amount of ₹52.00 lakhs along with accrued interest to the Petitioners/Appellants.