Disposed
Shri P Chandra Mohan v. The Malleshwarama Co. operative Bank Ltd.
DRATREGULAR APPEAL/40/2022
Case brief
AI extract
What is this about?
In IA 652/2021, the Appellate Tribunal at Chennai considered an application for waiver of the statutory deposit under the SARFAESI Act. The court directed the appellant to deposit 50% of the notice amount as no grounds existed for reduction, noting that interest disputes must be decided on merits in the underlying appeal.
What did the court decide?
Directed appellant to deposit 50% of the claim amount (Rs.9,02,464/-) within two weeks.