Partly allowed
R.Vijayabhaskar v. State Bank of India
Madras HCCRP/1213/2020
Case brief
AI extract
What is this about?
The High Court held that the Debt Recovery Appellate Tribunal lacked jurisdiction to direct a pre-deposit lower than 25%. A further deposit of Rs.2 lakhs was ordered to enable the tribunal to hear the appeal on merits; failure to comply would result in dismissal.
What did the court decide?
Petitioners directed to deposit Rs.2 lakhs within six weeks; upon deposit, the appeal shall be heard by the Tribunal; otherwise, the appeal shall stand dismissed.