Under Section 18 of the SARFAESI Act 2002, an appeal to the Appellate Tribunal against an order of the Debts Recovery Tribunal is not entertainable unless the appellant has deposited -

The proviso to Section 18(1) of the SARFAESI Act 2002 states that no appeal shall be entertained by the Appellate Tribunal unless the appellant has deposited with the Appellate Tribunal twenty-five per cent of the amount claimed by the secured creditor in the application for enforcement of the security interest. By way of a further proviso, the Appellate Tribunal may, for reasons to be recorded in writing, reduce the amount to be deposited but not below twenty-five per cent of the amount referred to in the first proviso, so the deposit cannot be dispensed with altogether. The object of the requirement is to protect the position of the secured creditor while the appeal is pending. Ten, fifty, seventy-five and one hundred per cent figures are not the percentages fixed by Section 18.