Allowed
New Apsara Traders v. M/ s. Rupa Steels Ltd. (In Liqn.)
Telangana HCCOMPA/1027/2013
Case brief
AI extract
What is this about?
This order allowed an applicant's refusal to refund his Earnest Money Deposit paid in a company asset auction where he was not. The liquidator had no objection, having already finalized the sale to a higher bidder after full recovery. The court directed immediate EMD refund.
What did the court decide?
Direction to refund the Earnest Money Deposit of Rs.27,40,900/- to the applicant within two weeks.