Appellant must provide Rs. 5,00,000 bank guarantee from Nationalised Bank within 3 months for appeal

The Supreme Court required the appellant to provide a bank guarantee of Rs. 5,00,000 from a Nationalised Bank within three months, in addition to the Rs. 15,00,000 cash deposit already made, to proceed with the appeal on its merits.

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The Supreme Court considered altering the pre-deposit condition imposed by the tribunal for entertaining the appellant's appeal. The court decided that in addition to the Rs. 15,00,000 cash deposit already made, the appellant must furnish a bank guarantee of Rs. 5,00,000 from a Nationalised Bank within three months. If the bank guarantee is provided, the tribunal will proceed to hear the appeal on its merits.

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