Allowed
Company Appeal(at)(Ins) 1566/ND/2026 of Axis Bank Limited v. Bsr Diagnostic Limited & Ors.
NCLAT1566/ND/2026
Case brief
AI extract
What is this about?
The Appellant appealed against an order imposing Rs. 2 lakhs cost for non-appearing and failing to refund an SRA distributed amount. The Tribunal directed the Appellant to deposit the amount with the Liquidator within three weeks without prejudice to contesting the refund application. Upon compliance, the cost was waived and the impugned order modified.
What did the court decide?
Cost of Rs. 2 lakhs to be waived upon voluntary deposit of the disputed amount within three weeks; impugned order modified; underlying application remains pending.