Pre-deposit compliance time extended subject to undertaking and application of sale proceeds toward the deposit requirement.

Time granted for compliance with the Tribunal-imposed pre-deposit condition was extended by three months. The extension was made conditional on filing an undertaking, and if immovable properties were sold during the extended period, the sale proceeds had to be applied towards the pre-deposit requirement. The operative effect was to preserve the compliance condition while allowing additional time for payment, subject to these safeguards.

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Issues: Whether the time granted for compliance with the pre-deposit condition imposed by the Tribunal should be extended.

Outcome: Time to make the pre-deposit was extended by three months, subject to filing of an undertaking and application of sale proceeds of immovable properties towards the pre-deposit requirement if such sale took place during the extended period.

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