Amount deposited by defaulter as part of One-Time Settlement not accepted by bank was to be refunded

FEMA, Banking & Insurance: Where appellants-defaulters deposited Rs. 40 crores in terms of order of High Court on 11-10-2017 to show bona fides of appellants when a revised offer was made by them for one time settlement with bank to whom an amount was due but said offer was rejected and High Court had directed that deposit would be treated as a deposit in Registry of High Court,

from www.taxmann.com Latest Case Laws https://ift.tt/2Hi5SRE