TMI BlogRequirement of 20% Deposit of Disputed Demand for Considering Stay Application - The High court...Requirement of 20% Deposit of Disputed Demand for Considering Stay Application - The High court clarified that the OMs do not mandate a 20% deposit as a precondition for granting stay against demand recovery. It was held that such an interpretation is misconceived and that the discretion to require a deposit, either more or less than 20%, depends on the facts of each case. The court directed the respondents to consider the petitioner's application for stay under Section 220(6) without the presumption of a mandatory 20% deposit. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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