In the present case, the appellant has not deposited any amount towards pre-deposit, whereas the second proviso of section 18 of the SARFAESI Act, 2002 says that no appeal shall be entertained unless the borrower has deposited with the Appellate Tribunal 50% of the amount of debt due from him, as claimed by the secured creditor or determined by the Debt Recovery Tribunal, whichever is less. Further, the third proviso of the said section says that the Appellate Tribunal may, for the reasons to be recorded in writing, reduce the amount not less than 25% of the debt referred to in the second proviso. Therefore, the appellant is directed to deposit minimum 25% of the amount due, which is mandatory in nature, for entertaining the appeal. If the appellant does not deposit the said amount prior to the next date fixed, the appeal shall stand dismissed as not entertainable for want of mandatory pre-deposit without further reference to this court. If the said amount is deposited by the appellant within the stipulated period, list this case on 18.09.2023 for hearing on waiver of the rest 25% of the amount due.
