Appellants have been earnestly attempting to make payments towards the debt that is due from them. There is a dispute regarding the calculation of the interest and also a dispute regarding the exact amount which has been accounted for as a consequence of the sale of one of the items of property belonging to the Appellants. In this application for waiver of deposit, I am not inclined to delve deep into the intricacies of the contentions raised by both sides. For entertaining the appeal and going into the details of the rival contentions raised by the parties, a mandatory pre-deposit has to be made. There is a dispute regarding the exact amount that is due from the Appellants as of the date of appeal. Taking into consideration the dispute in the amount and the rate of interest, I am of the considered view that the Appellants be directed to deposit a sum of ₹1.7 crores as pre-deposit. The amounts shall be deposited into equal instalments of ₹85 lacs each. The 1st instalment shall be paid within 3 weeks, on or before 29.12.2022 and the 2nd instalment shall be paid within 3 weeks, on or before 19.01.2023. In default, the Appeal shall stand dismissed, without any further reference to this Tribunal. On the deposit being made, the interim relief already granted shall be extended.
