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2016 (9) TMI 966 - SUPREME COURT OF INDIA

2016 (9) TMI 966 - SUPREME COURT OF INDIA - TMI - Refund of the amount deposited in compliance of the requirement of the second proviso to section 18(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for maintaining an appeal denied - Held that:- Similar issue in the case of Axis Bank vs. SBS Organics Private Limited & Anr. [2016 (4) TMI 917 - SUPREME COURT ] wherein held the Appeal under section 18 of the Act is permissible only agai .....

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that be so, on disposal of the appeal, either on merits or on withdrawal, or on being rendered infructuous, in case, the appellant makes a prayer for refund of the pre-deposit, the same has to be allowed and the pre-deposit has to be returned to the appellant, unless the Appellate Tribunal, on the request of the secured creditor but with the consent of the depositors, had already appropriated the pre-deposit towards the liability of the borrower, or with the consent, had adjusted the amount tow .....

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(Arising out of SLP(C) No.34859 of 2014) - Dated:- 23-8-2016 - REFERENCE : 2015 (3) TMI 194 - DELHI HIGH COURT KURIAN JOSEPH AND ROHINTON FALI NARIMAN, JJ. For The Petitioner : Mr. Mriganka Dutta, Adv., Mr. Ashish Rana,Adv., Mr. Shaveer Ahmed, Adv. For The Respondent : Mr. Pratiti Rungta, Adv., Mr. Sumit Pargal, Adv., Mr. Rameshwar Prasad Goyal,Adv., Mr. Vipin Kumar Jai,Adv., Ms. J. Mohan, Adv., Mr. Vipul Jai, Adv., Ms. Shailly Dinkar, Adv. JUDGMENT Kurian, J. Leave granted. The appellant is agg .....

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ancial Assets and Enforcement of Security Interest Act, 2002, for maintaining an appeal. This Court has considered a similar issue in the case of Axis Bank vs. SBS Organics Private Limited & Anr., in Civil Appeal No.4379 of 2016 and held as under : 22. The Appeal under section 18 of the Act is permissible only against the order passed by the DRT under section 17 of the Act. Under section 17, the scope of enquiry is limited to the steps taken under section 13(4) against the secured assets. Th .....

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