https://www.taxtmi.com/caselaws?id=341506 The pre-deposit condition in the second proviso to Section 18 of the SARFAESI Act applies only to the borrower and cannot be extended to a third party appellant who is neither a borrower nor a guarantor and has created no security in favour of the secured creditor. Section 18 allows an appeal by any person aggrieved, and reading the deposit requirement against a non-borrower would make that appeal right illusory. The statutory scheme therefore confines the deposit obligation to the borrower, and insistence on deposit from such appellants was set aside. en-us Wed, 01 Feb 2017 00:00:00 +0530 Mon, 10 Apr 2017 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341506 The pre-deposit condition in the second proviso to Section 18 of the SARFAESI Act applies only to the borrower and cannot be extended to a third party appellant who is neither a borrower nor a guarantor and has created no security in favour of the secured creditor. Section 18 allows an appeal by any person aggrieved, and reading the deposit requirement against a non-borrower would make that appeal right illusory. The statutory scheme therefore confines the deposit obligation to the borrower, and insistence on deposit from such appellants was set aside. Case-Laws Indian Laws Wed, 01 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341506