https://www.taxtmi.com/caselaws?id=327840 The appellate pre-deposit power under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 permits the Tribunal to waive or reduce the statutory deposit for recorded reasons, and that discretion is not limited to financial hardship alone. In deciding waiver, the Tribunal must consider both the prima facie merits of the appeal and the hardship caused by deposit, including the likelihood of success on challenge. A mechanical insistence on deposit based only on closure of business or financial difficulty is inadequate where the appeal raises arguable issues. On that reasoning, an order directing deposit of 50% of the debt without considering prima facie merits was described as unsustainable. en-us Wed, 02 Mar 2016 00:00:00 +0530 Thu, 20 Oct 2016 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327840 The appellate pre-deposit power under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 permits the Tribunal to waive or reduce the statutory deposit for recorded reasons, and that discretion is not limited to financial hardship alone. In deciding waiver, the Tribunal must consider both the prima facie merits of the appeal and the hardship caused by deposit, including the likelihood of success on challenge. A mechanical insistence on deposit based only on closure of business or financial difficulty is inadequate where the appeal raises arguable issues. On that reasoning, an order directing deposit of 50% of the debt without considering prima facie merits was described as unsustainable. Case-Laws Indian Laws Wed, 02 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327840