If DRT has not determined any amount payable by Borrowe, the quantum of pre-deposit is necessarily to be paid on the basis of the debts as claimed by Secured Creditor/Bank – Preeti Sharma v. Authorized Officer Bank of Baroda & Ors. – Delhi High Court

Hon’ble Delhi High Court held that: (i) It is apparent from the second proviso to Section 18 of the SARFAESI Act that, the quantum of pre-deposit required to maintain an appeal under Section 18 of the SARFAESI Act is to be determined on the basis of the debt due from the borrower as claimed by the secured creditor or as determined by the DRT, whichever is less. (ii) In the present case, the DRT has not determined any amount payable by the petitioner as yet. Therefore, the quantum of pre-deposit is necessarily to be paid on the basis of the debts as claimed by respondent no.1 Bank. It is apparent that the quantum of pre-deposit is, thus, required to be determined on the basis of the claim made by respondent no.1 Bank and not on the basis of the defence as advanced by the petitioner.

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