In Brief
S.D. Bhoskar and Co. appealed against a High Court direction requiring them to make a pre-deposit before the Debts Recovery Appellate Tribunal (DRAT) under the SARFAESI Act, 2002. The appellants argued they had already deposited Rs. 12.50 lakhs in related proceedings under the Recovery of Debts Due to Banks Act, 1993 for the same matter, making a further deposit unjust. The Supreme Court, without deciding the substantive legal question, disposed of the appeal by directing the DRAT to dispose of the pending appeals within six months and extending the interim order staying further deposits and coercive recovery steps during that period.
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