Release of seized fixed deposits follows once the adjudication order is set aside and affirmed, with statutory interest payable.

Where the adjudication order had been set aside and that setting aside had been affirmed, continued retention of the petitioner's fixed deposits was not justified. The relief for release of the seized amount was treated as consequential to the subsisting invalidation of the adjudication order, and the connected appeal's disposal reinforced that the deposit could not be retained further. The petitioner was therefore entitled to release of the fixed deposits forthwith together with statutory interest.

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Issues: Whether the petitioner was entitled to release of the fixed deposits representing the seized amount, along with statutory interest, after the adjudication order had been set aside and affirmed as such.

Analysis: The relief sought was treated as consequential because the adjudication order stood set aside by the Tribunal and that order had been affirmed. In view of the disposal of the connected appeal and the subsisting setting aside of the adjudication order, continued retention of the fixed deposits was not justified.

Conclusion: The petitioner was entitled to release of the fixed deposits forthwith together with statutory interest.

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