KUMAR URBAN DEVELOPMENT PRIVATE LIMITED Vs. INDIAN BANK

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. Heard by consent of parties.

(2.) The Petitioner by the present Petition challenges the judgment and order dated 28th April 2008 passed by the Debts Recovery Appellate Tribunal at Mumbai (for short "D.R.A.T.") by which the judgment and order dated 20th December 2007 of Debts Recovery Tribunal-II and order dated 15th June 2007 passed by the Recovery Officer, D.R.T.-II was upheld.

(3.) The Petitioner has sought a direction against the Respondent No. 8 and/or Respondent No. 9 to refund to the Petitioner a sum of Rs. 1.10 Crores being Earnest Money Deposit (for short "EMD") deposited by the Petitioner pursuant to the Petitioner having been declared as a successful bidder of the immovable property of Respondent No. 2 in the auction held by the Recovery Officer.