Can DRAT ask for pre-deposit of 50% as mentioned in the RC
29-Nov-2023 (In Banking / Finance Law)
I have filed an appeal against a DRT order. The the bank had filed a suit for Rs. 10.19 L. The RC of DRT is 13.99 L. The DRAT has asked me to pay the predeposit of 50 % with 12% interest as mentioned in the RC. The case has come up after 7 years of filing the appeal. My question is can DRAT ask for the predeposit of 50 % of the amount mentioned in RC with interest ? Or it has to be the 50% of what bank has asked. What is the course of remedy? Regards
DRAT before entertaining any appeal can ask for deposit of 50% of amount determined by the tribunal as per the new amendments in 2016. And DRAT can also reduce the claim at any point if situation demands the same
Regards
Regards
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