Section 18 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
18. Appeal to Appellate Tribunal.
(1)Any person aggrieved, by any order made by the Debts Recovery Tribunal [under section 17, may prefer an appeal alongwith such fee, as may be prescribed] [Substituted by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004), Section 12, for "under section 17, may prefer an appeal" (w.r.e.f. 21.6.2002).] to the Appellate Tribunal within thirty days from the date of receipt of the order of Debts Recovery Tribunal:[Provided that different fees may be prescribed for filing an appeal by the borrower or by the person other than the borrower:] [Inserted by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004), Section 12 (w.r.e.f. 21.6.2002).][Provided further that no appeal shall be entertained unless the borrower has deposited with the Appellate Tribunal fifty per cent. of the amount of debt due from him, as claimed by the secured creditors or determined by the Debts Recovery Tribunal, whichever is less:Provided also that the Appellate Tribunal may, for the reasons to be recorded in writing, reduce the amount to not less than twenty-five per cent. of debt referred to in the second proviso.] [Inserted by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004), Section 12 (w.e.f. 11.11.2004).](2)Save as otherwise provided in this Act, the Appellate Tribunal shall, as far as may be, dispose of the appeal in accordance with the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993) and rules made thereunder.[18-A. Validation of fees levied. [Inserted by the Enforcement of Securtity Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004), Section 13 (w.e.f. 11.11.2004).]- - Any fee levied and collected for preferring, before the commencement of the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004, an appeal to the Debts Recovery Tribunal or the Appellate Tribunal under this Act, shall be deemed always to have been levied and collected in accordance with law as if amendments made to sections 17 and 18 of this Act by sections 11 and 12 of the said Act were in force at all material times.
