- (1.) LEAVE is granted to the petitioner's Advocate-on-record to effect correction in the cause title of the petition by adding a party.
(2.) VIRES of the second proviso to Section 18 (1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest act, 2002 (hereinafter the Act) has been questioned by the petitioner in this petition.
(3.) SECTION 18 (1) of the Act is quoted hereunder : "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 along with such fee, as may be prescribed) to an 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 : 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. ";