Court Denies Waiver of 25% Pre-Deposit Requirement for Appeal Under SARFAESI Act, Section 18(1.

Waiver of pre-deposit - applicability of Section 18(1) of the SARFAESI Act - addition to debt due, an amount of interest and future interest that would be added from 2006 onwards until 2017 would escalate the "debt due" to a higher sum. The Petitioners would therefore be liable to deposit 25% of this amount as condition precedent under the provisions of the said Act in the appeal proceedings as pre-deposit - Waiver request rejected. .....

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