NARAYAN CHANDRA GHOSH vs UCO BANK .

The Supreme Court held that under Section 18(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Appellate Tribunal lacks the jurisdiction to exempt an appellant from making a pre-deposit as mandated by the second proviso of the same section. The Court clarified that the right to appeal is contingent upon the deposit requirement, emphasizing that the Appellate Tribunal's order allowing the appeal without such deposit was unsustainable. Consequently, the High Court's decision to set aside the Appellate Tribunal's order was upheld.