https://www.taxtmi.com/caselaws?id=458281 For SARFAESI appeals, the pre-deposit under section 18 is based on the debt due as claimed by the secured creditor, meaning the outstanding liability reflected in the borrower's account and not merely the amount stated in the section 13(2) notice. The appellate forum may reduce the deposit only down to the statutory floor of 25%, and no further reduction is permissible. On that basis, the 25% deposit direction was upheld, and no additional relaxation in amount was granted; only limited time for compliance was extended. en-us Mon, 25 Oct 2021 00:00:00 +0530 Fri, 18 Oct 2024 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458281 For SARFAESI appeals, the pre-deposit under section 18 is based on the debt due as claimed by the secured creditor, meaning the outstanding liability reflected in the borrower's account and not merely the amount stated in the section 13(2) notice. The appellate forum may reduce the deposit only down to the statutory floor of 25%, and no further reduction is permissible. On that basis, the 25% deposit direction was upheld, and no additional relaxation in amount was granted; only limited time for compliance was extended. Case-Laws Indian Laws Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458281