Pre-Deposit Under SARFAESI Must Be Paid To Tribunal, Not Bank: Kerala High Court

The Kerala High Court has clarified that the mandatory pre-deposit for filing an appeal under the SARFAESI Act must be made before the Debts Recovery Appellate Tribunal (DRAT), not the lending bank.

The Court held that the Act provides no legal basis for directing deposits to the lender.

It also reiterated that where an effective statutory remedy exists, writ petitions should not be entertained. 

The ruling reinforces procedural clarity and safeguards the appellate framework under SARFAESI. 

[The Authorized Officer & Chief Manager Kerala Gramin Bank v. M/s Prajith Builders & Developers Pvt. Ltd. & Ors.]