Court set aside auction sale on equitable grounds as entire ...

Auction sale set aside, interest awarded for delayed refund.

Case Laws Indian Laws

October 21, 2024

Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till refund, entitled to interest at 6% per annum on said amount from deposit date till refund date. Auction conducted by respondent at bank's instance, hence bank liable to pay interest. Impugned judgments modified to direct bank to pay simple interest at 6% per annum on Rs.81,20,000 to appellant from 21.07.2019 till actual refund date instead of 5% solatium. Appeal partly allowed.

View Source

← Previous Next →

Court set aside auction sale on equitable grounds as entire ...

Auction sale set aside, interest awarded for delayed refund.

Case Laws Indian Laws

October 21, 2024

You may also like:

Interest u/s 244A on delayed refund - the interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not...

Rejection of application for condonation of delay in preferring the application u/s 34 of the Arbitration and Conciliation Act - No application for setting aside the...

Interest on delayed refund - relevant time for calculation of interest - Considering Section 30 of the Act, which stipulates interest on delayed refunds, the court...

Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...

Interest on delayed refund of IGST paid on export of the goods along with duty drawback - The refund of the petitioner was withheld for almost six months and after six...

Delay in issuing Refund under Direct Tax Vivad Se Vishwas Scheme 2020 - interest on delayed refund - Despite the issuance of Form No. 5, the refunds for the Assessment...

Validity of award of interest by the sole arbitrator - earnest money and security deposits or not - The learned Arbitrator in the instant case has erred in awarding...

Illegal sale of confiscated gold - smuggle gold bars and coins - Refund of sale proceeds - grant of interest on delayed refund denied - CGOVT

Rejection of claim for interest on delayed refund - If the claim for refund itself was not maintainable in law, the question of grant of interest does not arise. The...

Interest on refund as per Section 244(A) - delay in refund - belated filing of return (ITR) - According to us, the effort was to get refund, the refund was ordered by...

SC held that the respondent was aware of auction sale notice and participated in auction process. Despite no proof of notice service, respondent knew of auction....

The Appellate Court exceeded its jurisdiction u/s 37 of the Arbitration and Conciliation Act, 1996, by setting aside an arbitral award that had already been confirmed...

Arbitrator's award set aside u/s 34 of Arbitration and Conciliation Act, 1996 due to lack of evidence regarding claimant's readiness to supply materials, arbitrator...

The case dealt with the interpretation of interest clauses in an arbitration award, specifically whether interest could be payable on interest or if the awarded 15% per...

Refund of IGST on goods exported - The High court found the denial of the IGST refund, based on the administrative discrepancies between the ICEGATE and GST Common...

Quick Updates: