SUNDARESHAN Vs. M.D., BHARATH GOLD MINES LTD.

JUDGEMENT

(1.) Leave granted.

(2.) The appellants are aggrieved by the direction given by the High Court to make a pre-deposit before the Debts Recovery Appellate Tribunal (DRAT) under the SARFAESI Act, 2002.

(3.) According to the appellants, they had already approached the DRAT and had deposited Rs. 12.50 Lakhs in respect of the same subject matter, when proceedings were initiated under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and hence, it will be highly unjust to insist for a pre-deposit before the DRAT in proceedings under the SARFAESI Act.