S.D. BHOSKAR AND CO. vs BANK OF BARODA

The Supreme Court addressed the issue of pre-deposit requirements under the SARFAESI Act, 2002, in light of prior deposits made under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court held that insisting on a pre-deposit in this context would be unjust and directed the Debts Recovery Appellate Tribunal (DRAT) to expedite the pending appeals. The interim order staying further deposits under the SARFAESI Act was upheld until the DRAT resolves the appeals.