Allowed
Ms Atr Cars Pvt. Ltd. v. Indian Bank
DRATREGULAR APPEAL/49/2022
Case brief
AI extract
What is this about?
The Appellate Tribunal considered an application for exemption from the mandatory predeposit requirement under Section 18(1) of the SARFAESI Act 2002. Finding that the appellant had already deposited an amount exceeding 50% of the dues, which was not denied by the respondent, the Tribunal allowed the waiver application.
What did the court decide?
Waiver application (Application No. 467 of 2022) was allowed, exempting the appellant from making further predeposit under Section 18(1) of the SARFAESI Act 2002.