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    Question

    What is the minimum percentage of debt a borrower must

    deposit to file an appeal with the Appellate Tribunal as per the SARFAESI Act?
    A 10% of the debt amount Correct Answer Incorrect Answer
    B 20% of the debt amount Correct Answer Incorrect Answer
    C 25% of the debt amount Correct Answer Incorrect Answer
    D 50% of the debt amount Correct Answer Incorrect Answer
    E No deposit required Correct Answer Incorrect Answer

    Solution

    Section 18. Appeal to Appellate Tribunal.—(1) Any person aggrieved, by any order made by the Debts Recovery Tribunal under section 17, may prefer an appeal along with such fee, as may be prescribed] to the Appellate Tribunal within thirty days from the date of receipt of the order of Debts Recovery Tribunal. Provided that different fees may be prescribed for filing an appeal by the borrower or by the person other than the borrower: Provided further that no appeal shall be entertained unless the borrower has deposited with the Appellate Tribunal fifty per cent. of the amount of debt due from him, as claimed by the secured creditors or determined by the Debts Recovery Tribunal, whichever is less: Provided also that the Appellate Tribunal may, for the reasons to be recorded in writing, reduce the amount to not less than twenty-five per cent. of debt referred to in the second proviso.

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