AIROnline 2019 Bom 2470 ::2020 (6) Bom CR 298

Bombay High Court

Hon'ble Judge(s): Sunil B. Shukre, Milind N. Jadhav , JJ

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (54 of 2002) , S.13(2), S.18(1)— Appeal - Challenge as to pre-deposit of 50% of amount - If amount of debt, yet to be determined by DRT then borrower while preferring appeal would be liable to deposit 50% of debt due from him as claimed by secured creditor in his statutory notice - Since condition of pre-deposit is mandatory, complete waiver of pre-deposit cannot be granted - Same beyond jurisdiction of Tribunal to do so as is evident from second and third proviso to S.18(1) - No interference. (Para 38)