https://www.taxtmi.com/caselaws?id=370642 An amendment by substitution to Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, governing pre-deposit for appeal before the Appellate Tribunal, was treated as procedural because it changed only the condition for exercising the statutory right of appeal and not the right itself. On that basis, the amended provision was held to apply retrospectively and to operate as if incorporated from the statute's inception. The Court also found no sufficient cause for waiver or extension of time, and held that the Tribunal's direction to deposit 50% of the debt amount was within the statutory framework. The writ petitions therefore failed on merits and the impugned orders were sustained. en-us Fri, 05 Oct 2018 00:00:00 +0530 Wed, 21 Nov 2018 21:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370642 An amendment by substitution to Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, governing pre-deposit for appeal before the Appellate Tribunal, was treated as procedural because it changed only the condition for exercising the statutory right of appeal and not the right itself. On that basis, the amended provision was held to apply retrospectively and to operate as if incorporated from the statute's inception. The Court also found no sufficient cause for waiver or extension of time, and held that the Tribunal's direction to deposit 50% of the debt amount was within the statutory framework. The writ petitions therefore failed on merits and the impugned orders were sustained. Case-Laws Indian Laws Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370642