Lawgist21Deposit of amount of debt due, on filing appeal
Where an appeal is preferred by any person from whom the amount of debt is due to a bank or a financial institution or a consortium of banks or financial institutions, such appeal shall not be entertained by the Appellate Tribunal unless such person has deposited with the Appellate Tribunal 1[fifty per cent.] of the amount of debt so due from him as determined by the Tribunal under section 19:
Provided that the Appellate Tribunal may, for reasons to be recorded in writing, 2[reduce the amount to be deposited by such amount which shall not be less than twenty-five per cent. of the amount of such debt so due] to be deposited under this section.
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1 Subs. by Act 44 of 2016, s. 35, for "seventy-five per cent". (w.e.f. 1-9-2016).
2 Subs. by s. 35, ibid., for "waive or reduce the amount" (w.e.f. 1-9-2016).
- 19 Application to the Tribunal
- 19A Filing of recovery applications, documents and written statements in electronic form
- 20 Appeal to the Appellate Tribunal
- 21 Deposit of amount of debt due, on filing appeal
- 22 Procedure and powers of the Tribunal and the Appellate Tribunal
- 22A Uniform procedure for conduct of proceedings
- 23 Right to legal representation and Presenting Officers
- 24 Limitation
