Financially Distressed Company Requests CENVAT Credit Refund to Be Paid Directly to State Bank of India for Loan Settlement.

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....Refund of cenvat credit - Sick Company - The petitioner is not asking the money to be paid into his account. He is only asking the money to be paid to the State Bank of India towards discharge of some loan. In such a case, the payment to the Bank would also act, probably as a recovery for the Bank. - HC....