Axis Bank vs Sbs Organics Pvt. Ltd & Anr

The Supreme Court ruled that under Section 18 of the SARFAESI Act, a borrower must deposit fifty percent of the amount ordered by the Debt Recovery Tribunal to appeal before the Debt Recovery Appellate Tribunal. The Court held that the deposit made during the appeal is subject to the outcome of the appeal, and the borrower is entitled to a refund of the deposit if the appeal is withdrawn after the underlying Securitisation Application is disposed of. The Court clarified that the deposit cannot be appropriated by the secured creditor unless the dues are fully satisfied.