C.A. No. 012294 / 2024
THE AUTHORISED OFFICER KARNATAKA BANK vs M/S RMS GRANITES (P) LTD.
Status
DISPOSED
Judges
HON'BLE MR. JUSTICE J.B. PARDIWALA and HON'BLE MR. JUSTICE PANKAJ MITHAL
Order Date
12-11-2024
Filed On
13-03-2023 04:39 PM
AI Summary
A secured creditor under SARFAESI proceedings who retains excess auction proceeds beyond the dues recovered is liable to refund such surplus with interest, as interest represents normal accretion on capital withheld rather than a penalty.