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Pre-deposit under Section 18 of SARFAESI Act to file an appeal before DRAT not a secured asset

Supreme Court: Deciding the question as to the fate of the deposit on the disposal of the appeal in case of an appeal under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) before the Debt Recovery Appellate Tribunal(DRAT), the bench of Kurian Joseph and R.F. Nariman, JJ held that the partial deposit before the DRAT as a pre-condition for considering the appeal on merits in terms of Section 18 of the Act, is not a secured asset.

Article referred: http://blog.scconline.com/post/2016/04/26/pre-deposit-under-s-18-of-sarfaesi-act-to-file-an-appeal-before-drat-not-a-secured-asset/

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