Bombay High Court Allows Guarantors' Waiver of Pre-deposit in Debt Recovery Appeal — Section 21 of RDB Act Does Not Mandate Pre-deposit for Guarantors When Principal Debtor Has Already Deposited Substantial Amount. The court held that the DRAT's discretion under Section 21 must be exercised judiciously, and since the principal debtor deposited Rs. 1.5 crores, the guarantors' appeal should not require additional pre-deposit.
29 Jun 2017The judgment concerns two writ petitions filed by guarantors (Mr. Jaisingrao Ghodke and Smt. Nalini Jadhav) challenging an order dated 4/5/2017 passed...
