https://www.taxtmi.com/caselaws?id=325198 For the purpose of the SARFAESI Act pre-deposit under section 18, the amount to be deposited is the debt due as claimed by the secured creditor on the relevant date, not merely the figure stated in the section 13(2) notice. Where the claim includes future or accrued interest, that interest forms part of the debt due for computing the deposit. Any part-payments already made by the borrower must be credited, because they reduce the outstanding liability. The operative effect is that the statutory deposit is calculated on the reduced debt outstanding, including interest where claimed. en-us Fri, 05 Feb 2016 00:00:00 +0530 Mon, 14 Mar 2016 10:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325198 For the purpose of the SARFAESI Act pre-deposit under section 18, the amount to be deposited is the debt due as claimed by the secured creditor on the relevant date, not merely the figure stated in the section 13(2) notice. Where the claim includes future or accrued interest, that interest forms part of the debt due for computing the deposit. Any part-payments already made by the borrower must be credited, because they reduce the outstanding liability. The operative effect is that the statutory deposit is calculated on the reduced debt outstanding, including interest where claimed. Case-Laws Indian Laws Fri, 05 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325198