https://www.taxtmi.com/caselaws?id=307966 The amended pre-deposit regime under the Recovery of Debts Due to Banks and Financial Institutions Act applied to an appeal that was pending when the amendment came into force but was decided afterwards. The change governed the stage of consideration, so the earlier provision could not continue to control the waiver application. Under the amended scheme, the appellate forum could reduce the deposit only within the statutory minimum of 25% for recorded reasons and could not grant a complete waiver. An order based on total waiver was therefore contrary to the amended mandate and was set aside. en-us Thu, 18 Jul 2019 00:00:00 +0530 Thu, 18 May 2023 22:07:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307966 The amended pre-deposit regime under the Recovery of Debts Due to Banks and Financial Institutions Act applied to an appeal that was pending when the amendment came into force but was decided afterwards. The change governed the stage of consideration, so the earlier provision could not continue to control the waiver application. Under the amended scheme, the appellate forum could reduce the deposit only within the statutory minimum of 25% for recorded reasons and could not grant a complete waiver. An order based on total waiver was therefore contrary to the amended mandate and was set aside. Case-Laws Indian Laws Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307966