Applicability of Sub Sec 2 of Section 17, SARFAESI Act

Querist : Anonymous (Querist) 06 September 2010 This query is : Resolved
Sir,

I would like to know that as per the latest judgment by S.C. in Mardia Chemicals Ltd. Etc versus UOI & Other in which the provision of sub section 2 of section 17 of Sarfaesi Act is decleared ultra virus of Article 14 Constitution of India. What is its impact?
Whether as a borrower, I have no need to diposite any amount for entertainment of appeal in DRAT

Thanks & Regards

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R.Ranganathan (Expert) 06 September 2010
Yes. But any admitted amount will be asked to deposited while admitting the appeal.

Querist : Anonymous (Querist) 07 September 2010
Sir,
In case, if we have to deposite the amount on admission of appeal than what is the purpose of declaration of subsec 2 of sec 17 of SARFEASI Act as ultra virus of Article 14 of Constitution of India by Supreme Court in Mardia Chemicals Ltd. Etc versus UOI & Other

Regards

DEFENSE ADVOCATE.-firmaction@g (Expert) 14 September 2010
Admitted amounts you have to pay , no rescue.

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