BANK LOAN – DRAT TO DISMISS APPEAL IF 50% OF THE DECREE AMOUNT IS NOT DEPOSITED

    Bank Loan, DRT, DRAT, Banking Law


Bank Loan Defaults- DRT- Appeals

  

Defaults in Bank Loans are recovered through Debt Recovery Tribunals. Borrower, if unsatisfied with the Judgment of Debt Recovery Tribunals, can appeal to Debt Recovery Appellate Tribunals (DRAT). Supreme Court in the matter of Kotak Mahindra Bank Vs Ambuj A Kasliwal (decided on 16-02-2021) has held that Borrower has to deposit 50% of the decreed amount before his appeal is admitted. In exceptional circumstances, DRAT can reduced this amount to 25%, BUT in no case it can be reduced below 25% of the decreed amount. Failure to deposit this amount will result in dismissal of appeal.


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