Case Law Analysis
|Uttarakhand High Court
Pre-deposit not required for non-borrower under Section 18(1) SARFAESI Act | Appeal filing : UHC
The Uttarakhand High Court ruled that the third proviso of Section 18(1) SARFAESI Act applies only to borrowers, so a non-borrower cannot be forced to deposit 25 % of the debt to file an appeal. This removes an unlawful pre-deposit condition for third-party appellants and clarifies the filing fee structure for all SARFAESI appeals.