Vinod Kumar vs Omkara Asset Reconstruction Pvt Ltd & ...
- CitationCompany Appeal (AT) (Ins) No. 2265 of 2024
Ratio decidendi
The rule this decision rests on
The deposit made under an interim order that was not ultimately sustained, where the appeal is dismissed and the order is silent on the deposited sum, is to be refunded to the depositor; the deposit was made in reliance on the interim order, and the dismissal of the appeal leaves no basis for the Tribunal to retain it.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Vinod Kumar ...Appellants Versus Omkara Asset Reconstruction Pvt. Ltd. & Anr. ...Respondents
Present: For Appellant : Appeared but presence not marked. For Respondents : Mr. Siddhant Kant and Ms. Sanyukta Fauzdar, Advocates for R1.
ORDER
(Hybrid Mode)
13.08.2025: I.A. No. 4558/2025
Heard Counsel for the Appellant as well as Ld. Counsel for the
Respondent.
2. This is an application filed by the appellant praying for following
reliefs:-
"P R A Y E R
It is most respectfully prayed that this Hon'ble Tribunal may be pleased to:
A. Permit the Appellant to withdraw the amount of ₹9,38,44,668/- along with accrued interest, deposited vide FDR No. 6950443560 dated 17.12.2024, pursuant to the order dated 06.12.2024 in Comp. App. (AT) (Ins) No. 2265 of 2024; and/or direct the Ld. Registrar NCLAT to give NOC for release of the amount of ₹9,38,44,668/- along with accrued interest, deposited vide FDR No. 6950443560 dated 17.12.2024 and/or
B. Pass such further or other orders as this Hon'ble Tribunal may deem fit and proper in the interest of justice."
3. This appeal which was filed by the Appellant- Suspended Director of the
Corporate Debtor an interim order was passed on 06.12.2024 permitting the
appellant to deposit the amount. Appellant in pursuance of the order dated
06.12.2024 has deposited the amount of Rs.9,38,44,668/-. The appeal was
heard and dismissed by judgment of this Tribunal dated 04.04.2025 at the
time of dismissal of the appeal no orders was passed with regard to amount
deposited by the appellant hence this application is filed.
4. We find that amount was deposited by the appellant relying on the
interim order passed, which appeal ultimately stood dismissed hence, the
amount deposited by the appellant needs to be refunded to the appellant. We
allow the application as prayed in accordance with prayer-A in the
application.
Application is disposed of accordingly.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) harleen/NN
2 of 2 I.A. No. 4558 of 2025 in Company Appeal (AT) (Ins) No. 2265 of 2024
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