Question

The pre-deposit required for filing an appeal before the DRAT under Section 18 is generally what percentage of the debt due?

Q: Answer-The pre-deposit required for filing an appeal before the DRAT under Section 18 is generally what per...

Under Section 18 of the SARFAESI Act, a borrower filing an appeal before the Debts Recovery Appellate Tribunal must deposit fifty percent of the amount of debt due as claimed by the secured creditor or as determined by the DRT, whichever is less. The DRAT may, for reasons recorded in writing, reduce this amount to not less than twenty-five percent. This pre-deposit condition is intended to prevent misuse of the appellate remedy merely to delay recovery proceedings.