Debts Recovery Tribunals and Appellate Tribunals
P Soundarajan vs A O Tamilnad Mercantile Bank Ltd on 9 September 2026
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
R.A(S.A):39/2020
P.Soundarajan & Anr V/S A.O.,Tamilnad Mercantile Bank Ltd 09/09/2026
This application is filed for refund of pre-deposit.
Learned Counsel for the Petitioners/Appellants is present. Despite service of notice to the Respondent Bank, none appeared.
Learned Counsel for the Petitioners submitted that the appeal in RA (SA) 39 of 2020 was dismissed on 18.3.2025 and seeks refund of pre-deposit.
The pre-deposit amount is neither a secured debt nor a security interest is created. There is no order of attachment under Section 13(10) of the SARFAESI Act against this amount. Therefore, the Petitioner is entitled for this refund of pre-deposit, along with accrued interest if any.
In view of this, Miscellaneous Application No.88 of 2026 in RA (SA) 39 of 2020 is allowed.
Registry is directed to refund the pre-deposit, with accrued interest, if any, to the 1st Petitioner, as prayed for in the Pre-deposit Refund Application.
Sd/-
Chairperson