Disposed
M/ S R S Educational Society and Ors. v. Punjab National Bank
Case brief
AI extract
What is this about?
The court addressed an appeal filed under Section 18 of the SARFAESI Act. It directed the appellant to deposit 25% of the amount due as a mandatory pre-deposit, citing the Sidha Neelkanth case which held that auction proceeds cannot offset this requirement. The appeal was stayed pending compliance.
What did the court decide?
Directing the appellant to deposit 25% of the amount due as a mandatory pre-deposit by the next fixed date; otherwise, the appeal will be dismissed. Case listed on 08.05.2023 for hearing on waiver of