The Court identified several areas where this lack of uniformity causes problems, including the percentage of a decretal amount required to be deposited for obtaining a stay, the bank or financial institution in which the money is to be kept, the financial instrument used, the applicable rate of interest and the manner in which such interest is ultimately adjusted.
It added that decree-holders may be prevented from using money already awarded to them, while judgment-debtors may continue facing mounting interest liability even after parting with the money.
The absence of common standards can also result in similarly placed litigants receiving different treatment depending on the court or tribunal before which their proceedings are pending, the Court noted.
It further said that uncertainty over the administration of deposits and interest can generate fresh litigation even after the underlying dispute has ended.