NDLI: Narayan Chandra Ghosh Vs. Uco Bank & Ors.

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002:
Content Type	Text
Resource Type	Law Order
Jurisdiction	India
Act(s) Referred	Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Disposed Off
Headnote	Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: s.18 - Requirement of pre-deposit of amount in terms of s. 18 - Whether mandatory - Held: Right to file appeal u/s 18 is conferred subject to condition laid down in the second proviso thereto - The second proviso postulates that no appeal shall be entertained unless the borrower has deposited with the Appellate Tribunal 50% of the amount of debt due from him, as claimed by the secured creditors or as determined by the Debts Recovery Tribunal, whichever is less.- However, under the third proviso to the sub-section, the Appellate Tribunal has the power to reduce the amount, for the reasons to be recorded in writing, to not less than 25% of the debt. referred to in the second proviso - Thus, there is an absolute bar to entertainment of an appeal u/s. 18 of the Act unless the condition precedent, as stipulated, is fulfilled- In the instant case, the order of the Appellate Tribunal, entertaining borrower's appeal without insisting on pre-deposit was clearly unsustainable - In the notice issued to the borrower u/s. 13(2) of the Act, the debts due was Rs. 52, 42, 47 41. Since the Debts Recovery Tribunal had not determined the debt due, the borrower is directed to deposit with the Appellate Tribunal an amount of Rs. 15 lakhs within a period of four weeks - Thereafter, appeal to be entertained and decided on merits. s. 18, second proviso - Right to file appeal subject to to conditions -. Held: When a statute confers a right of appeal, while granting the right,.· the legislature. can impose conditions for the exercise of such right, so long as the conditions are not so onerous as to amount to unreasonable restrictions, rendering the right almost illusory - Bearing in mind the object · of the Act, . the conditions hedged in the second proviso B cannot be said to be onerous - Interpretation of statutes.
Judge	N/A
Neutral Citation	2011 INSC 222
Petitioner	Narayan Chandra Ghosh
Respondent	Uco Bank & Ors.
SCR	[2011] 3 S.C.R. 1024
Judgement Date	2011-03-18
Case Number	2681

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