Trapped in a Bank's Debt Recovery Case? Remember, no appeal unless you deposit 25% upfront

Debt recovery laws are very strict. The Banks have special adjudicating debt recovery tribunals where such cases are tried. 

Once the judgement is passed, a debtor may want to appeal to Appellate tribunal. 

But here there is problem.

At the time of filing appeal, debtor has to deposit 50% of amount. 

In Special cases, Tribunal may reduce such deposit to 25%.

But in no case, it can totally wave deposit. Appeal is not maintainable unless deposit is made.

For more reference, please check judgement of Supreme Court dated 18/3/2011 in case of N C G versus UCO Bank.

Haresh Raichura 

1/6/2014