Supreme Court seeks law to protect multi-crore court deposits from mismanagement

The Supreme Court has flagged the lack of uniform regulations governing court-ordered deposits, stating that inconsistent handling of such funds is contributing to case delays. The Court emphasized the need for protective legislation to safeguard these multi-crore deposits from ad-hoc management.

The Court noted that different approaches across jurisdictions are creating asymmetry in how court deposits are treated, thereby prolonging case pendency. The absence of standardized rules leaves deposits vulnerable to inefficient or inconsistent handling.