Disposed
L.S.Suresh Reddy and Another v. Indian Bank
Case brief
AI extract
What is this about?
In an application for waiver against a statutory deposit under the SARFAESI Act, the Tribunal rejected the appellants' request to reduce the deposit from 50% to 25%. The Court held that loans were not agricultural and no material justified a reduction, ordering the full 50% deposit. The Court held that loans were not agricultural and no material justified a reduction, ordering the full 50% deposit
What did the court decide?
Appeal dismissed; appellant required to deposit Rs.10,14,058.50 in two instalments; failure to pay partial instalment result in automatic dismissal of appeal.