SHAILESH PRASAD vs UNITED COMMERCIAL BANK — C.A. No. 5145/2001

Summary of Shailesh Prasad v. United Commercial Bank (C.A. No. 005145/2001) The Supreme Court set aside the High Court's order dated July 10, 2000, which had allowed the bank's appeal against a stay granted on certificate proceedings. The Court directed Prasad (Certificate Debtor) to furnish security covering the entire certificate amount within 8 weeks; if furnished, the First Appellate Court must decide the pending maintainability appeal within 6 weeks thereafter. If security is not furnished within 8 weeks, the appeal stands dismissed with costs of Rs. 15,000. This case analysis is maintained by casestatus.in based on publicly available court records.