High Court of Karnataka Dismisses Guarantor's Writ Petition Challenging DRAT Order for Non-Compliance with Pre-Deposit Condition Under Section 18 of SARFAESI Act. Petitioner failed to deposit 50% of the debt due as mandated by Section 18(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, leading to dismissal of appeal and writ petition.
20 Feb 2025The petitioner, Kailasam P, was a guarantor for a loan of Rs.12,84,46,406.76 as quantified on 04.04.2017. The Karnataka Bank Ltd. initiated recovery p...





