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KUMAR ALUMINIUM LTD Versus ASSET RECONSTRUCTION COMPANY INDIA LTD AND ANR

2016 (9) TMI 966 - SUPREME COURT OF INDIA

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 - Hel .....

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f the Act. Under section 17, the scope of enquiry is limited to the steps taken under section 13(4) against the secured assets. The partial deposit before the DRAT as a pre-condition for considering the appeal on merits in terms of section 18 of the .....

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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 .....

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e pre-deposit in any proceedings under section 13(10) of the Act read with Rule 11 of the Security Interest (Enforcement) Rules, 2002, or if there be any attachment in any other proceedings known to law. - Accordingly, we dispose of this appeal, .....

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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. .....

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ssed by the High Court of Delhi in Writ Petition (Civil) No.3896 of 2013. As per the impugned judgment, the High Court declined to interfere with the order passed by the Debt Recovery Appellate Tribunal, Delhi (for short, the 'DRAT'). The DRA .....

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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 p .....

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on for considering the appeal on merits in terms of section 18 of the Act, is not a secured asset. It is not a secured debt either, since the borrower or the aggrieved person has not created any security interest on such pre-deposit in favour of the .....

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