SC Holds that Pre-Deposit under MSME Act is Mandatory while Preferring an Appeal to Set Aside Arbitration Award

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Dec 31, 2021

SC Holds that Pre-Deposit under MSME Act is Mandatory while Preferring an Appeal to Set Aside Arbitration Award

The SC, in the matter of Gujarat State Disaster Management Authority v. Aska Equipments Limited^[1] has held that the Appellate Court does not have the discretion to deviate from the requirement of making a pre-deposit of 75% of the awarded amount under Section 19(1) of the Micro, Small and Medium Enterprises Development Act, 2006 in an appeal to set aside an arbitration award, filed under Section 34 of the Arbitration and Conciliation Act, 1996.

[1] 2021 SCC OnLine SC 917.

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