In the senior diviion court my friend lost a dispute regarding an retracted / failed sale transaction of his bunglow.
At the appeal admission, HC asked to deposit the amount he had got that time + 18% interest on top totalling to about 1.15 Cr..
he deposited the first amount and preferred SLP to SC against the 18% which sounded unresonable by any calculations and also beyond his capabilities.
But neither HC nor SCare ready to listen to any arguments until the amount is first deposited. They have at the most giving instellments for the 18% amount.
By all means this is unresonable demand, and we want to check if instead a personal bond / security be given by of the property whose current valuation is well above the total put together.
In summary, can we still apply for security bond instead of depositing actual money , property valuation well above can be given in suerity.
