Supreme Court Confirms Mandatory 75% Pre-Deposit for Appeals u/s 19 of MSME Development Act 2006.

Requirement of pre-deposit - Direction to deposit 75% of the awarded amount in terms of Section 19 of Micro, Small and Medium Enterprises Development Act, 2006 - Considering the language used in Section 19 of the MSME Act, 2006 and the object and purpose of providing deposit of 75% of the awarded amount as a pre-deposit while preferring the application/appeal for setting aside the award, it has to be held that the requirement of deposit of 75% of the awarded amount as a predeposit is mandatory. - SC .....

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