KUMAR ALUMINIUM LTD vs ASSET RECONSTRUCTION COMPANY INDIA LTD

The Supreme Court held that under Section 18(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, a pre-deposit is not a secured asset and must be refunded unless appropriated by the Appellate Tribunal with consent. The Court set aside the High Court's judgment and the DRAT's order, remitting the matter for fresh consideration. The ruling clarifies the conditions under which a refund of the pre-deposit is permissible.