https://www.taxtmi.com/caselaws?id=374840 Under Section 18 of the SARFAESI Act, the statutory pre-deposit for an appeal before the Debts Recovery Appellate Tribunal applies only to the "borrower," read with Section 2(f) to include a guarantor, and not to a person who is neither borrower nor guarantor. Applying the plain meaning of the text, the Delhi HC held that there was no basis to extend the second proviso to third parties. The Tribunal was therefore justified in entertaining the appeal without insisting on the deposit, and the writ challenge was rejected. en-us Wed, 12 Dec 2018 00:00:00 +0530 Tue, 12 Feb 2019 07:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374840 Under Section 18 of the SARFAESI Act, the statutory pre-deposit for an appeal before the Debts Recovery Appellate Tribunal applies only to the "borrower," read with Section 2(f) to include a guarantor, and not to a person who is neither borrower nor guarantor. Applying the plain meaning of the text, the Delhi HC held that there was no basis to extend the second proviso to third parties. The Tribunal was therefore justified in entertaining the appeal without insisting on the deposit, and the writ challenge was rejected. Case-Laws Indian Laws Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374840