Dismissed
M/ S Maa Yashoda Rice Mill Pvt. Ltd. Ors. v. Punjab National Bank and Anr.
Case brief
AI extract
What is this about?
The court held that auction proceeds cannot be counted towards the mandatory 25% pre-deposit under Section 18 of the SARFAESI Act as per a Supreme Court judgment. The appeal is directed to deposit the amount or face dismissal.
What did the court decide?
The appellant is directed to deposit 25% of the amount due by the next date fixed; otherwise, the appeal shall stand dismissed.