Partly allowed
Elangovan M v. Messers Fullerton India Home Finance Company Ltd.
Case brief
AI extract
What is this about?
Appellant sought waiver of statutory deposit under SARFAESI Act for appealing an interim order. Court directed deposit of 25% of the demanded amount (Rs.8,19,737) instead of waiver, ordering payment within two weeks or rejecting the appeal.
What did the court decide?
Waiver of deposit denied; Rs.8,19,737 to be deposited within two weeks to maintain appeal; failure leads to rejection.