DRAT cannot entertain an Appeal under SARFAESI Act without Pre- deposit

Union Bank of India Vs Rajat Infrastructure Pvt. Ltd. & Ors. (Supreme Court) The issue under consideration is whether the High Court was right in directing that pre-­deposit was not required for entertaining an appeal before the DRAT as mandated by Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘SARFAESI Act’). In the case of Narayan Chandra Ghosh vs. UCO Bank & Ors.1, held that keeping in view the language of the Section even if the amount or debt due had not been determined by the DRT, the appeal...