https://www.taxtmi.com/caselaws?id=299969 An interim order of the Debts Recovery Tribunal under Rule 12(5) was treated as a determination of debt for the purpose of the Section 21 pre-deposit requirement, because it formed part of the Section 19 scheme and reflected an adjudication of the admitted liability even before issuance of a recovery certificate. The Court also held that guarantors were bound by the borrower's admission on the facts. A direction to deposit a reduced amount, well below the statutory threshold, was not vitiated by lack of reasons or by any arbitrary exercise of discretion, so interference was declined. en-us Tue, 05 Jul 2016 00:00:00 +0530 Fri, 07 Jan 2022 08:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299969 An interim order of the Debts Recovery Tribunal under Rule 12(5) was treated as a determination of debt for the purpose of the Section 21 pre-deposit requirement, because it formed part of the Section 19 scheme and reflected an adjudication of the admitted liability even before issuance of a recovery certificate. The Court also held that guarantors were bound by the borrower's admission on the facts. A direction to deposit a reduced amount, well below the statutory threshold, was not vitiated by lack of reasons or by any arbitrary exercise of discretion, so interference was declined. Case-Laws Indian Laws Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299969