https://www.taxtmi.com/caselaws?id=332705 A statutory pre-deposit required to entertain an appeal under the SARFAESI Act does not create a security interest in favour of the secured creditor and is neither a secured asset nor a secured debt. On that basis, the amount is ordinarily refundable when the appeal is disposed of, whether on merits, by withdrawal, or because it has become infructuous. Refund may be denied only where the amount has been validly appropriated or adjusted with consent, or where it is subject to a lawful attachment, including proceedings under section 13(10) read with Rule 11 of the 2002 Rules or other lawful attachment proceedings. en-us Tue, 23 Aug 2016 00:00:00 +0530 Fri, 23 Sep 2016 12:41:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332705 A statutory pre-deposit required to entertain an appeal under the SARFAESI Act does not create a security interest in favour of the secured creditor and is neither a secured asset nor a secured debt. On that basis, the amount is ordinarily refundable when the appeal is disposed of, whether on merits, by withdrawal, or because it has become infructuous. Refund may be denied only where the amount has been validly appropriated or adjusted with consent, or where it is subject to a lawful attachment, including proceedings under section 13(10) read with Rule 11 of the 2002 Rules or other lawful attachment proceedings. Case-Laws Indian Laws Tue, 23 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332705