Waiver of pre-deposit for filing appeal before DRAT is not sustainable in law, rules SC

FEMA, INSURANCE amp; BANKING : Where High Court had permitted respondent guarantors to prosecute appeal before Debts Recovery Appellate Tribunal without pre-deposit of a portion of debt determined to be due, as provided under section 21 of Recovery of Debts and Bankruptcy Act, 1993, it was held that when further amount was due and payable in discharge of decree/recovery certificate issued by DRT in favour of appellant/Bank, High Court did not have power to waive pre-deposit in its entirety,

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