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IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. Balakrishnan, J
MM Varghese – Appellant
Versus
State Bank of India – Respondent
| Table of Content |
|---|
| 1. petition challenges drat pre-deposit order under sarfaesi. (Para 1 , 2) |
| 2. rival contentions on debt quantification and pre-deposit waiver. (Para 3 , 4 , 5) |
| 3. section 18(1) provisos mandate 50%/25% pre-deposit on creditor's claim. (Para 6 , 7) |
| 4. upholds drat order; petition lacks merit and dismissed. (Para 8) |
Dated this the 31st day of March 2026 J U D G M E N T This Original Petition (DRT) is filed seeking to set aside Ext.P4 order passed by the Debts Recovery Appellate Tribunal, Chennai (hereinafter referred to as ‘the DRAT’). Ext.P4 is an order passed in I.A. No. 1435 of 2025 in AIR No. 1929 of 2025 , seeking waiver of the statutory pre-deposit required under Section 18(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the SARFAESI Act’).
2. The petitioner is the appellant in AIR No. 1929 of 2025 pending before the DRAT. The said appeal has been preferred against the final order dated 19.08.2025 passed by the Debts Recovery Tribunal - II, Ernakulam (hereinafter referred to as ‘the DRT’) in S.A.No.573 of 2022. Along with the appeal, the petitioner also filed an application as
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