Multiple choice

After Mardia Chemical Case, the amendment made in the SARFAESI Act stipulated deposit of ________ amount before preferring the appeal to DRT (Appellate Tribunal).

  1. 50%

  2. 60%

  3. 70%

  4. None of the above
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A Correct answer
Explanation

Based on the observation of the Supreme Court in the Mardia Chemicals vs Union of India case, the Government of India issued notification amending the provisions of the SARFAESI Act. The amendment stipulates payment of 50% amount, instead of 75% as originally enacted.

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