High Court affirms Tribunal's Rs.3 Crores predeposit order. Compliance crucial for appeal.

The High Court upheld the Tribunal's order directing the petitioner to predeposit Rs.3 Crores within 12 weeks. The appeals would be deemed rejected if the deposit was not made within the stipulated time frame. The Tribunal was directed to proceed with the appeal upon compliance with the deposit requirement.

---

---

The High Court Bombay High Court in 2010 (7) TMI 207 case heard appeals against a Tribunal order directing a petitioner to predeposit Rs.3 Crores. The appellant agreed to comply with the order by depositing the amount within 12 weeks, failing which the appeals would be deemed rejected. The Tribunal was instructed to proceed with the appeal based on compliance with the undertaking.

---