Mandatory pre-deposit under SARFAESI appeals cannot be fully waived; relief is limited to the statutory minimum.

Section 18 of the SARFAESI Act makes the prescribed pre-deposit a mandatory condition for entertaining an appeal. The third proviso permits reduction only up to the statutory minimum; complete waiver is not contemplated, unlike the corresponding regime under the RDDB Act. Applying the binding precedent noted in the text, the requirement remains compulsory once the statutory minimum is fixed, and the appellate forum cannot entertain the appeal without compliance. On that basis, the writ petition was not entertainable and was liable to be dismissed for non-satisfaction of the pre-deposit condition.

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Issues: Whether the writ petition could be entertained when the Debt Recovery Appellate Tribunal had reduced the pre-deposit to the statutory minimum under Section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

Analysis: The statutory scheme under Section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 makes deposit of the prescribed amount a condition for entertaining an appeal. The third proviso permits reduction only up to the statutory minimum, and unlike the corresponding provision under Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, complete waiver is not contemplated. The binding precedent relied upon confirms that the pre-deposit requirement is mandatory and that an appeal cannot be entertained unless the condition is satisfied.

Conclusion: The writ petition was not entertainable and was liable to be dismissed in view of the mandatory pre-deposit requirement.

Ratio Decidendi: Where Section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prescribes a minimum pre-deposit for an appeal, the requirement is mandatory and complete waiver is impermissible.

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