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Condition Of Pre-Deposit For Appeal U/S 18(1) SARFAESI Act Only For Borrowers & Guarantors

In INDIABULLS HOUSING FINANCE LTD vs VAIBHAV JHAWAR AND ORS., the Delhi High Court,upheld a decision passed by the Debt Recovery Appellate Tribunal, to hold that the provisions of Section 18 of the SARFAESI Act, are determinative of the fact that the legislature intended that it is only the borrower and the guarantor, who should be under obligation to make the pre-deposit.

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