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Misc. Application No.23/2026 (Application for refund of pre-deposit)
The instant application is filed on the contention that the appellant/applicant has preferred Appeals bearing No. 446/2011 & 447/2011 before this Tribunal to set aside the order dated 04.11.2011 passed by the DRT-II, Chandigarh in O.A. bearing No. 425/2022 and rejection of counter claim filed by the appellant. The appellant in compliance of Section 21 of SARFAESI Act had deposited Rs.50.00 lacs vide demand draft dated 27.01.2015 as pre-deposit at the time of filing the appeal.
The Appeals No. 446/2011 & 447/2011 were disposed of vide order dated 06.04.2016 (the correct date is 06.04.2015). Thereafter a Writ Petition was filed before the High Court of Punjab & Haryana bearing CWP No. 3729/2016 by the State Bank of India i.e. respondent no.1, which was disposed of vide order dated 24.08.2017. The DRT-II, Chandigarh was directed to decide the issue of counter claim, which was again rejected vide order dated 21.11.2017 passed by the DRT-II, Chandigarh.
The appellant again filed fresh Appeal bearing No. 417/2018 to impugn the order dated 21.11.2017. This Tribunal allowed the application for waiver of pre-deposit vide order dated 25.10.2019 and permitted the appellant to continue with the deposit of Rs.50.00 lacs, which were deposited in Appeals bearing No.446/2011 & 447/2011.
The State Bank of India filed another Writ Petition bearing No. W.P. (C) 13524/2019 before the High Court of Delhi, which was dismissed. This Tribunal vide order dated 15.01.2019 has allowed the Appeal bearing No.417/2018.
In these circumstances, as the Appeal bearing No. 417/2018 has already been dismissed Sh. Rajinder Wali, Advocate for the appellant/applicant prayed for return of pre-deposit of Rs.50.00 lacs.
Sh. Bheem Sain Jain, Advocate for the respondent no.1 and Ms. Usha Singh, Advocate for the respondent no.2 also stated that since the Appeal bearing No.417/2018 has already been disposed of, this Tribunal may pass suitable order on the refund of pre-deposit of Rs.50.00 lacs, which was made in Appeals bearing No. 446/2011 & 447/2011.
As the appeals as detailed herein above have already been disposed of and no litigation is pending between the concerned parties. Accordingly, the pre-deposit of Rs.50.00 lacs along with accrued interest is ordered to be returned back to the appellant/applicant as per rules. The application stands disposed of.