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Jun 30, 2020In Union Bank of India v. Rajat Infrastructure Private Limied[1], the Supreme Court held that the Debt Recovery Appellate Tribunal (‘DRAT’) cannot entertain an appeal without a pre-deposit being made under Section 18 of the SARFAESI Act. However, the DRAT can reduce the pre-deposit amount upto 25% from the required 50% of the total debt due from it with the DRAT.
[1] 2020 SCC OnLine SC 262.
