SARFAESI Act, there must be a specific pleading regarding a prima facie case in favour of the Appellants and secondly that they are under financial strain. There are absolutely no pleadings in that regard in the application under the waiver and therefore, it may not be possible to grant any reliefs to the Appellants regarding the mandatory pre-deposit to be made. The Appellant are, therefore, directed to deposit a sum of ₹8 lacs by way of pre-deposit. The Ld. Counsel appearing for the Appellants offers by demand draft for ₹2 lacs today. The balance of ₹6 lacs shall be deposited in two equal instalments of ₹3 lacs each. The first instalment shall be payable within a period of two weeks, on or before 29.03.2023 and the second instalment shall be payable within two weeks therefrom, on or before 13.04.2023. Since the Appellants have already deposited ₹2 lacs today, there shall be a stay of further Sarfaesi measures with regard to the secured assets, and breach of payment of the subsequent instalments shall entail in dismissal of the appeal without further reference to this Tribunal.
