2022 (3) TMI 991

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....f 2003 and case No. 45 of 2005 and AAIFR Appeal No. 100 of 2015 and direction to Respondent No. 1 and 2 to release the FDR bearing No. 50300165044890 and FDR bearing No. 50300165237802 for amount to Rs. 1,35,00,000/- dated 05.10.2016 each respectively, deposited by the applicant in terms of order passed AIFR. 2. It is submitted that the petitioner is a debtor and the respondent No. 3 is the only secured creditor having total principal outstanding of Rs. 290/- Lacs. The petitioner was declared as sick unit under SICA on 24.05.2006, the petitioner was directed to deposit the 100% principal outstanding to the respondent No. 3. 3. It is averred that petitioner had already deposited Rs. 20/- Lacs earlier to show its bona fide, therefore, on th....

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....he FDRs, wrote the applicant to get the orders from the competent authority for the release of FDRs to the applicant (Annexure A-17). 6. It is contended by the applicant that it approached the Hon'ble Punjab and Haryana High Court for the appropriate orders, which relegated the applicant to this Hon'ble Tribunal (Annexure A-20). 7. Summarily, it is submitted by the applicant that original FDRs have been lost in the records. On the orders of this Tribunal, the Bank (Respondent No. 4 and 5 impleaded at later stage) can directly encash the FDRs to the applicant on the basis of the record provided by the Bank from their archives which is placed on record Annexure A-21 and A-22 vide Diary No. 0071 dated 13.01.2022, so that the payment ....