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Judgment
R. D. Khare, Chairperson
The office report dated 30.11.2022 shows that pursuant to the earlier order dated 17.05.2022, all the respondents have duly been served, but none has put in appearance on their behalf.
The learned counsel for the applicant submits that the secured asset has been sold for more than the amount due and even excess amount has already been returned to the borrower and as on date, nothing is to be paid by the applicant to the Bank. It is further contended that at the time of filing of the appeal, an amount of Rs. 27.00 lacs and odd was deposited towards pre-deposit with this Tribunal. The learned counsel further contends that since the appeal has been dismissed vide order dated 10.04.2018, therefore, the said amount be released in favour of the applicant.
In view of the submission made by the learned counsel for the applicant and the fact that inspite of notice being served, no one has appeared on behalf of the respondents, the application for release of amount is allowed and the registry is directed to release the amount deposited towards pre-deposit along with interest in favour of the applicant.