The document provides an overview of Debt Recovery Tribunals (DRTs) in India. Key points:
- DRTs were constituted under the Recovery of Debts Due to Banks and Financial Institutions Act to allow for faster recovery of debts compared to civil courts.
- DRTs have jurisdiction over cases where the debt owed is over Rs. 10 lakhs. They are aimed to settle cases within 180 days.
- DRTs are headed by a Presiding Officer who must be qualified as a district judge. Recovery Officers execute orders to recover debts.
- Original Applications are filed with the DRT to recover debts, along with documents as proof. Interim orders can restrain sale of assets until the
Sigmund Freud was an Austrian neurologist who founded psychoanalysis. He developed theories about the structure of the human mind and stages of psychosexual development. Freud proposed that the mind is divided into the id, ego, and superego, which are constantly in conflict. He believed unconscious motives and childhood experiences shape adult behavior. Freud made major contributions through his theories of dreams, defense mechanisms, and the importance of sexuality in development. Though influential, Freud's theories are also subject to some criticism regarding emphasis on childhood and sexuality as motivators.
El documento define el parentesco como la relación entre personas que descienden de un progenitor común o que comparten sangre. Explica que existe el parentesco por consanguinidad entre parientes de sangre, el parentesco por afinidad entre cónyuges y los parientes del otro cónyuge, y el parentesco civil entre adoptantes y adoptados. También describe los grados, líneas, derechos, obligaciones e incapacidades legales que surgen del parentesco.
Annulment of Marriage Laws in India,Annulment or Nullity of Marriage,deference between annulment and divorce,annulment of marriage under Hindu Marriage Act 1955.
1. Remedies for breach of trust by a trustee include personal remedies against the trustee and proprietary remedies available to beneficiaries. Personal remedies hold trustees liable for losses caused by unauthorized actions, require them to return unauthorized profits, and pay compensation including interest.
2. Proprietary remedies allow beneficiaries to claim specific trust property as their own if it can be identified, even if the trustee is insolvent. This includes tracing trust property that has been sold and used to purchase other assets, which beneficiaries can claim or use as security.
3. If trust funds have been mixed with other money in investments or bank accounts, beneficiaries have priority claims to recover the original trust funds from the mixed assets or their proceeds based on legal pres
The Specific Relief of Act 1877
The Law of Limitation Act, 1908
ARNAB KUMAR DAS
Port City International University,
Chittagong, Bangladesh.
SID: LLB 00305037
Custom and it's essential under family lawPARTH PATEL
This document discusses the concept of custom as a source of law in Hindu law. It defines custom as a habitual course of conduct generally observed in a community. There are three types of customs: local customs which prevail in a defined locality, general customs which are operative throughout a realm, and family customs which concern adoption, marriage, descent, and property devolution within a family. For a custom to be considered valid, it must be reasonable, certain, ancient, not opposed to any law or morality, continuous, and have obtained the force of law through long usage and acceptance. The document provides examples and explanations of each type of custom and the essential requirements for a custom to be recognized as a valid source of law.
This document discusses the trial procedure for summons cases under the Code of Criminal Procedure in India. Summons cases involve less serious offenses punishable by up to 2 years imprisonment. The trial procedure for summons cases is simpler and less formal than for warrant cases. Key aspects of the summons case trial procedure include: recording a plea of guilty from the accused, allowing conviction in absentia for petty cases, acquitting the accused if the complainant does not appear, and case law rulings related to questioning of the accused and disclosure of defense. The discussion concludes that police need modification and social awareness training to fulfill objectives of protecting human rights and serving the welfare state.
Sigmund Freud was an Austrian neurologist who founded psychoanalysis. He developed theories about the structure of the human mind and stages of psychosexual development. Freud proposed that the mind is divided into the id, ego, and superego, which are constantly in conflict. He believed unconscious motives and childhood experiences shape adult behavior. Freud made major contributions through his theories of dreams, defense mechanisms, and the importance of sexuality in development. Though influential, Freud's theories are also subject to some criticism regarding emphasis on childhood and sexuality as motivators.
El documento define el parentesco como la relación entre personas que descienden de un progenitor común o que comparten sangre. Explica que existe el parentesco por consanguinidad entre parientes de sangre, el parentesco por afinidad entre cónyuges y los parientes del otro cónyuge, y el parentesco civil entre adoptantes y adoptados. También describe los grados, líneas, derechos, obligaciones e incapacidades legales que surgen del parentesco.
Annulment of Marriage Laws in India,Annulment or Nullity of Marriage,deference between annulment and divorce,annulment of marriage under Hindu Marriage Act 1955.
1. Remedies for breach of trust by a trustee include personal remedies against the trustee and proprietary remedies available to beneficiaries. Personal remedies hold trustees liable for losses caused by unauthorized actions, require them to return unauthorized profits, and pay compensation including interest.
2. Proprietary remedies allow beneficiaries to claim specific trust property as their own if it can be identified, even if the trustee is insolvent. This includes tracing trust property that has been sold and used to purchase other assets, which beneficiaries can claim or use as security.
3. If trust funds have been mixed with other money in investments or bank accounts, beneficiaries have priority claims to recover the original trust funds from the mixed assets or their proceeds based on legal pres
The Specific Relief of Act 1877
The Law of Limitation Act, 1908
ARNAB KUMAR DAS
Port City International University,
Chittagong, Bangladesh.
SID: LLB 00305037
Custom and it's essential under family lawPARTH PATEL
This document discusses the concept of custom as a source of law in Hindu law. It defines custom as a habitual course of conduct generally observed in a community. There are three types of customs: local customs which prevail in a defined locality, general customs which are operative throughout a realm, and family customs which concern adoption, marriage, descent, and property devolution within a family. For a custom to be considered valid, it must be reasonable, certain, ancient, not opposed to any law or morality, continuous, and have obtained the force of law through long usage and acceptance. The document provides examples and explanations of each type of custom and the essential requirements for a custom to be recognized as a valid source of law.
This document discusses the trial procedure for summons cases under the Code of Criminal Procedure in India. Summons cases involve less serious offenses punishable by up to 2 years imprisonment. The trial procedure for summons cases is simpler and less formal than for warrant cases. Key aspects of the summons case trial procedure include: recording a plea of guilty from the accused, allowing conviction in absentia for petty cases, acquitting the accused if the complainant does not appear, and case law rulings related to questioning of the accused and disclosure of defense. The discussion concludes that police need modification and social awareness training to fulfill objectives of protecting human rights and serving the welfare state.
Restitution of conjugal rights a comparativestudySunit Kapoor
1. Restitution of conjugal rights (RCR) allows a spouse to petition a court to order the other spouse to resume living together if they have withdrawn from the marriage without reasonable cause.
2. The concept originated under British rule in India and was later codified under various personal laws like the Hindu Marriage Act.
3. Under these laws, RCR can be ordered if the petitioner proves withdrawal without cause, though reasonable excuses include cruelty, failure to perform marital duties, or non-payment of dowry under Muslim law. Constitutional challenges to RCR have been rejected by courts.
1) Private international law governs issues related to marriage such as validity, dissolution, and inheritance across legal jurisdictions.
2) Generally, the law of the place where the marriage was solemnized (lex loci celebrationis) determines the formal validity of the marriage. However, some countries also consider the law of the domicile (lex domicilii).
3) In India, Hindu and Muslim marital laws have different requirements for a valid marriage. Under Hindu law, saptapadi is essential while Muslim law treats marriage as a civil contract requiring an agreement with witnesses.
The document discusses the law on arrest in India according to the Code of Criminal Procedure (CrPC). It defines arrest and differentiates it from custody. It outlines the types of arrest that can be made with or without a warrant by police officers, magistrates or private persons. It also describes the rights of arrested persons and important Supreme Court judgements related to arrest procedures and compliance with legal safeguards.
This document defines and compares cognizable and non-cognizable offenses. Cognizable offenses allow the police to independently investigate and make arrests without court approval, are non-bailable, and include crimes like murder, rape, and theft. Non-cognizable offenses require court permission for investigation and arrests, are bailable, and include crimes like forgery, cheating, and assault. The key difference is whether the police have autonomous power to investigate or require court approval.
This document discusses breach of trust and defenses available to trustees. It begins by defining breach of trust and the basis for trustee liability. It then covers the nature of trustee liability, including personal liability to beneficiaries. Defenses that may allow a trustee to avoid liability are then examined, such as beneficiary consent, release or acquiescence, expiration of the limitation period, statutory relief if the trustee acted honestly and reasonably, advice of counsel, exemption clauses, and statutory indemnities.
This document discusses police deviance and corruption. It defines police deviance as any activities inconsistent with norms or ethics, including two main types: occupational deviance involving criminal/noncriminal acts during work, and abuse of authority violating the public's trust. The document then lists examples of police duties and various forms of police misconduct like corruption, brutality, lying, theft, and substance abuse. It provides details on types of police misconduct such as false arrests, fake evidence, leaking confidential information, and perjury. Finally, it discusses causes of police deviance and the need for police administrators to set clear expectations, develop an ethical culture, and hold officers and supervisors accountable.
Este documento describe los medios de impugnación ante el Instituto Mexicano del Seguro Social (IMSS). Explica que el IMSS actúa como prestador de servicios de seguridad social y como autoridad fiscal autónoma. Detalla los diferentes actos administrativos, recursos administrativos y juicios que pueden interponerse, dependiendo de la naturaleza del acto impugnable. Asimismo, incluye flujogramas que resumen los procedimientos y requisitos para interponer medios de defensa como la determinación presentada sin pago, el escrit
The document discusses bail provisions under criminal procedure law. It begins by defining bail and its purpose of securing an accused's appearance in court. Offences are classified as bailable, non-bailable, or unbailable. For non-bailable offences punishable by death or life imprisonment, bail is usually not granted if there are reasonable grounds to believe the accused committed the offence. However, the court may grant bail in exceptional circumstances if the accused is a minor, woman, or sick/infirm person. Case law examples provide guidance on factors considered for granting bail in non-bailable cases, such as medical conditions, age, or ensuring no interference with the case. Conditions like surrendering travel documents or regular police
Provisions for Victim Assistance:Restitution : Ex-Gratia Grant;Compensation...singhajay92
The document discusses provisions for victim assistance in the form of restitution and compensation. It defines restitution as restoring losses through means such as ex-gratia grants provided by the offender, government, or third parties. Compensation aims to lessen the immediate costs of victimization and is recognized internationally as a victim's right. Both restitution and compensation can provide funds, medical aid, and other assistance to help victims recover from crimes and abuse of power. The document examines examples of restitution and compensation schemes from India and other countries.
This document discusses the key concepts related to trusts under Indian law. It defines a trust as an obligation annexed to the ownership of property that arises from a confidence placed in and accepted by the owner for another's benefit. The main elements of a valid trust are the author's intention to create it, a definite purpose, property assigned for the trustee's benefit, and certainty of beneficiaries. Trusts are different from concepts like debt, bailment, and agency. The duties, powers, and liabilities of trustees and beneficiaries are also outlined.
The document discusses the concept of domicile under succession law. It defines domicile as the place where a person has fixed their habitation with the intention of remaining there indefinitely. A new domicile can be acquired in three ways: by origin of birth, by operation of law such as marriage, or by choice by taking up residence in a new country. To acquire a new domicile by choice in Pakistan, a person must reside there for one year and then make a written declaration of their intention to acquire a Pakistani domicile by depositing it in the designated government office. A case study is also presented where a woman was granted additional marks for a teaching position based on her acquired domicile through marriage
The document provides an overview of plea bargaining in India. It defines plea bargaining as negotiations between the accused and prosecution where the accused pleads guilty in exchange for concessions. Plea bargaining originated in the US in the 1970s and was introduced in India based on the doctrine of nolo contendere. The document outlines the process for plea bargaining applications in India, including eligibility, contents of applications, procedures, and sentencing guidelines. It also discusses past opposition to plea bargaining in India and exceptions where it is not permitted.
Principles of Trust: Classification and CreationPreeti Sikder
Learning Outcome:
Students will :
-be informed about the major divisions among the concept of trust
-learn about the basic legal conditions a trust has to fulfill under Trusts Act, 1882
Warrants are written orders issued by a judicial officer commanding a law enforcement officer to perform some act related to the administration of justice. There are several types of warrants including arrest warrants, which allow police to detain a suspect, and search warrants, which permit officers to search property for evidence of a crime. Warrants must be properly issued by a court and executed by law enforcement according to established legal procedures to be valid.
The document provides an overview of key concepts and issues in Australian family law. It discusses traditional and modern family structures, the role and influence of international law, and legal rights and responsibilities of parents and children. Key points of discussion include changing social values, compliance with the law, and using legal and non-legal approaches to achieve just outcomes for families.
Labour Welfare in the era of Globalization.pdfAmitSingh750546
Labour laws in India aim to protect workers from exploitation, provide compensation for injuries, and ensure fair wages and opportunities. Globalization has accelerated economic integration worldwide but also threatens workers' rights by allowing corporations to weaken labor standards. Post-independence, India enacted many laws establishing welfare programs for organized sector workers. However, conditions remain worse for unorganized sector workers who are casual and scattered. Recent efforts have sought to extend protections to all workers through self-help groups and new laws, but improvements are still needed to fully realize workers' welfare and rights amid globalization.
This document discusses rules related to court orders for attachment of property. It outlines the application process for attachment, including requirements that must be satisfied. It notes that if an application is not satisfied, it will be rejected. It also provides examples of cases where multiple parties have claims against a shared or same property.
The petitioner union filed a writ petition seeking directions to the Inspector of Factories to take action against a factory for removing the optional lock system from its computerized attendance system. The factory had implemented the system in 2003 with permission. The court dismissed the petition. It noted that the union had previously agreed to the computerized attendance system. Under the Information Technology Act and factory rules, electronic records and exemption from certain rules are allowed. The workers could complain about any violations. [/SUMMARY]
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)Abinash Mandilwar
The document discusses the Debt Recovery Tribunal (DRT) process in India for recovering debts owed to banks and financial institutions. It provides details on the structure and jurisdiction of DRTs and Debt Recovery Appellate Tribunals (DRATs). The summary is:
[1] DRTs are special quasi-judicial forums established under the Recovery of Debts due to Banks and Financial Institution Act, 1993 to allow for the speedy recovery of loans owed to banks and financial institutions.
[2] The document outlines the procedures for banks to file recovery applications with the DRT, including prerequisites taken before filing and requirements for the application.
[3] It also describes the DRT procedures after an
This document provides an overview and definitions for key terms in the Financial Rehabilitation and Insolvency Act of 2010 in the Philippines. It defines terms like debtor, claim, commencement date, rehabilitation, and liquidation. It also outlines exclusions from the Act, such as banks and insurance companies. The Act aims to encourage rehabilitation of financially distressed enterprises when possible, and orderly liquidation when rehabilitation is not feasible, to protect creditor rights and maximize asset value.
Restitution of conjugal rights a comparativestudySunit Kapoor
1. Restitution of conjugal rights (RCR) allows a spouse to petition a court to order the other spouse to resume living together if they have withdrawn from the marriage without reasonable cause.
2. The concept originated under British rule in India and was later codified under various personal laws like the Hindu Marriage Act.
3. Under these laws, RCR can be ordered if the petitioner proves withdrawal without cause, though reasonable excuses include cruelty, failure to perform marital duties, or non-payment of dowry under Muslim law. Constitutional challenges to RCR have been rejected by courts.
1) Private international law governs issues related to marriage such as validity, dissolution, and inheritance across legal jurisdictions.
2) Generally, the law of the place where the marriage was solemnized (lex loci celebrationis) determines the formal validity of the marriage. However, some countries also consider the law of the domicile (lex domicilii).
3) In India, Hindu and Muslim marital laws have different requirements for a valid marriage. Under Hindu law, saptapadi is essential while Muslim law treats marriage as a civil contract requiring an agreement with witnesses.
The document discusses the law on arrest in India according to the Code of Criminal Procedure (CrPC). It defines arrest and differentiates it from custody. It outlines the types of arrest that can be made with or without a warrant by police officers, magistrates or private persons. It also describes the rights of arrested persons and important Supreme Court judgements related to arrest procedures and compliance with legal safeguards.
This document defines and compares cognizable and non-cognizable offenses. Cognizable offenses allow the police to independently investigate and make arrests without court approval, are non-bailable, and include crimes like murder, rape, and theft. Non-cognizable offenses require court permission for investigation and arrests, are bailable, and include crimes like forgery, cheating, and assault. The key difference is whether the police have autonomous power to investigate or require court approval.
This document discusses breach of trust and defenses available to trustees. It begins by defining breach of trust and the basis for trustee liability. It then covers the nature of trustee liability, including personal liability to beneficiaries. Defenses that may allow a trustee to avoid liability are then examined, such as beneficiary consent, release or acquiescence, expiration of the limitation period, statutory relief if the trustee acted honestly and reasonably, advice of counsel, exemption clauses, and statutory indemnities.
This document discusses police deviance and corruption. It defines police deviance as any activities inconsistent with norms or ethics, including two main types: occupational deviance involving criminal/noncriminal acts during work, and abuse of authority violating the public's trust. The document then lists examples of police duties and various forms of police misconduct like corruption, brutality, lying, theft, and substance abuse. It provides details on types of police misconduct such as false arrests, fake evidence, leaking confidential information, and perjury. Finally, it discusses causes of police deviance and the need for police administrators to set clear expectations, develop an ethical culture, and hold officers and supervisors accountable.
Este documento describe los medios de impugnación ante el Instituto Mexicano del Seguro Social (IMSS). Explica que el IMSS actúa como prestador de servicios de seguridad social y como autoridad fiscal autónoma. Detalla los diferentes actos administrativos, recursos administrativos y juicios que pueden interponerse, dependiendo de la naturaleza del acto impugnable. Asimismo, incluye flujogramas que resumen los procedimientos y requisitos para interponer medios de defensa como la determinación presentada sin pago, el escrit
The document discusses bail provisions under criminal procedure law. It begins by defining bail and its purpose of securing an accused's appearance in court. Offences are classified as bailable, non-bailable, or unbailable. For non-bailable offences punishable by death or life imprisonment, bail is usually not granted if there are reasonable grounds to believe the accused committed the offence. However, the court may grant bail in exceptional circumstances if the accused is a minor, woman, or sick/infirm person. Case law examples provide guidance on factors considered for granting bail in non-bailable cases, such as medical conditions, age, or ensuring no interference with the case. Conditions like surrendering travel documents or regular police
Provisions for Victim Assistance:Restitution : Ex-Gratia Grant;Compensation...singhajay92
The document discusses provisions for victim assistance in the form of restitution and compensation. It defines restitution as restoring losses through means such as ex-gratia grants provided by the offender, government, or third parties. Compensation aims to lessen the immediate costs of victimization and is recognized internationally as a victim's right. Both restitution and compensation can provide funds, medical aid, and other assistance to help victims recover from crimes and abuse of power. The document examines examples of restitution and compensation schemes from India and other countries.
This document discusses the key concepts related to trusts under Indian law. It defines a trust as an obligation annexed to the ownership of property that arises from a confidence placed in and accepted by the owner for another's benefit. The main elements of a valid trust are the author's intention to create it, a definite purpose, property assigned for the trustee's benefit, and certainty of beneficiaries. Trusts are different from concepts like debt, bailment, and agency. The duties, powers, and liabilities of trustees and beneficiaries are also outlined.
The document discusses the concept of domicile under succession law. It defines domicile as the place where a person has fixed their habitation with the intention of remaining there indefinitely. A new domicile can be acquired in three ways: by origin of birth, by operation of law such as marriage, or by choice by taking up residence in a new country. To acquire a new domicile by choice in Pakistan, a person must reside there for one year and then make a written declaration of their intention to acquire a Pakistani domicile by depositing it in the designated government office. A case study is also presented where a woman was granted additional marks for a teaching position based on her acquired domicile through marriage
The document provides an overview of plea bargaining in India. It defines plea bargaining as negotiations between the accused and prosecution where the accused pleads guilty in exchange for concessions. Plea bargaining originated in the US in the 1970s and was introduced in India based on the doctrine of nolo contendere. The document outlines the process for plea bargaining applications in India, including eligibility, contents of applications, procedures, and sentencing guidelines. It also discusses past opposition to plea bargaining in India and exceptions where it is not permitted.
Principles of Trust: Classification and CreationPreeti Sikder
Learning Outcome:
Students will :
-be informed about the major divisions among the concept of trust
-learn about the basic legal conditions a trust has to fulfill under Trusts Act, 1882
Warrants are written orders issued by a judicial officer commanding a law enforcement officer to perform some act related to the administration of justice. There are several types of warrants including arrest warrants, which allow police to detain a suspect, and search warrants, which permit officers to search property for evidence of a crime. Warrants must be properly issued by a court and executed by law enforcement according to established legal procedures to be valid.
The document provides an overview of key concepts and issues in Australian family law. It discusses traditional and modern family structures, the role and influence of international law, and legal rights and responsibilities of parents and children. Key points of discussion include changing social values, compliance with the law, and using legal and non-legal approaches to achieve just outcomes for families.
Labour Welfare in the era of Globalization.pdfAmitSingh750546
Labour laws in India aim to protect workers from exploitation, provide compensation for injuries, and ensure fair wages and opportunities. Globalization has accelerated economic integration worldwide but also threatens workers' rights by allowing corporations to weaken labor standards. Post-independence, India enacted many laws establishing welfare programs for organized sector workers. However, conditions remain worse for unorganized sector workers who are casual and scattered. Recent efforts have sought to extend protections to all workers through self-help groups and new laws, but improvements are still needed to fully realize workers' welfare and rights amid globalization.
This document discusses rules related to court orders for attachment of property. It outlines the application process for attachment, including requirements that must be satisfied. It notes that if an application is not satisfied, it will be rejected. It also provides examples of cases where multiple parties have claims against a shared or same property.
The petitioner union filed a writ petition seeking directions to the Inspector of Factories to take action against a factory for removing the optional lock system from its computerized attendance system. The factory had implemented the system in 2003 with permission. The court dismissed the petition. It noted that the union had previously agreed to the computerized attendance system. Under the Information Technology Act and factory rules, electronic records and exemption from certain rules are allowed. The workers could complain about any violations. [/SUMMARY]
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)Abinash Mandilwar
The document discusses the Debt Recovery Tribunal (DRT) process in India for recovering debts owed to banks and financial institutions. It provides details on the structure and jurisdiction of DRTs and Debt Recovery Appellate Tribunals (DRATs). The summary is:
[1] DRTs are special quasi-judicial forums established under the Recovery of Debts due to Banks and Financial Institution Act, 1993 to allow for the speedy recovery of loans owed to banks and financial institutions.
[2] The document outlines the procedures for banks to file recovery applications with the DRT, including prerequisites taken before filing and requirements for the application.
[3] It also describes the DRT procedures after an
This document provides an overview and definitions for key terms in the Financial Rehabilitation and Insolvency Act of 2010 in the Philippines. It defines terms like debtor, claim, commencement date, rehabilitation, and liquidation. It also outlines exclusions from the Act, such as banks and insurance companies. The Act aims to encourage rehabilitation of financially distressed enterprises when possible, and orderly liquidation when rehabilitation is not feasible, to protect creditor rights and maximize asset value.
Securitization and debt recovery ii reviseUjjwal 'Shanu'
The document discusses the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 which was passed to facilitate speedy adjudication of matters relating to recovery of debts owed to banks and financial institutions. It established Debt Recovery Tribunals and Appellate Tribunals across India for this purpose. The criteria for setting up DRTs depends on the volume of cases in an area. Banks and financial institutions can file applications to the DRT for recovery of debts, following the procedures laid out in the Act. Orders passed by the DRT can be appealed to the Appellate Tribunal.
The document discusses the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, which was passed to facilitate the speedy adjudication of matters relating to recovery of debts owed to banks and financial institutions. It established Debt Recovery Tribunals and Debt Recovery Appellate Tribunals across India to handle such cases. The tribunals have similar powers to civil courts and follow procedures to allow banks/FIs to file applications, defendants to respond, and include provisions for appeals, interim orders, and debt recovery. As of now, there are 29 DRTs and 5 DRATs constituted across the country to help banks/FIs recover bad debts efficiently.
The document summarizes the Debt Recovery Tribunal Act of 1993 in India. Key points:
- It establishes Debt Recovery Tribunals and Appellate Tribunals to facilitate recovery of debts owed to banks and financial institutions exceeding 10 lakh rupees.
- The Tribunals have jurisdiction over cases where the debtor resides or operates within specified areas. Banks can apply to the Tribunals to recover debts.
- The Tribunals determine the amount owed and issue certificates to Recovery Officers to attach/sell debtor properties, arrest the debtor, or appoint receivers to recover the debt. Debtors can appeal amounts but must deposit 75% of the determined debt.
Negotiable Instruments Act 1881
Significance of negotiable instruments
Features of negotiable instruments
Cheque Meaning
Types of Cheque
MICR – Meaning
Crossing
Crossing of Cheque
Holder in due course
Payment in due course
Endorsement
Paying Banker
Dishonour of Cheque
Statutory protection to a paying Banker
Material Alteration
Statutory protection in case of a Materially altered Cheque
Collecting Banker
Duties and Liabilities of Collecting Banker
Protection of Collection Banker
The SARFAESI Act gives banks powers to recover loans from defaulting borrowers. It allows banks to issue a 60-day notice for loan repayment. If unpaid, banks can take possession of secured assets and sell them to recover dues. The Act established Asset Reconstruction Companies regulated by RBI to acquire NPAs from banks. ARCs must be registered with RBI and meet net worth requirements. They can issue security receipts to qualified buyers and investors for acquired assets. The DRT provides an avenue for borrower appeals, which must be filed within 45 days with 50% of claimed dues deposited.
This document outlines the Financial Institutions Ordinance of 2001 in Pakistan. The ordinance aims to repeal and re-enact the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act of 1997 with some modifications. It establishes Banking Courts to handle cases related to recovery of finances extended by financial institutions in a timely manner. The ordinance defines key terms, outlines the duties of customers to fulfill obligations, and sets out procedures for financial institutions to recover written-off finances expeditiously through the new Banking Courts.
What is the procedure for corporate insolvency resolution under the IBC.pdfyamunaNMH
A recovery method made available to creditors under the Insolvency and Bankruptcy Code (IBC) is the Corporate Insolvency Resolution Process (CIRP). The concerned creditor or the corporate entity (the debtor) itself may start CIRP in the event that a corporate entity becomes insolvent (unable to repay debt).
Corporate Insolvency Process- Insolvency and Bankruptcy Code, 2016INDIA CS
The document provides an overview of the key aspects of the Insolvency and Bankruptcy Code of India. It discusses who can file for insolvency, the process for filing by a financial creditor, the roles of the interim and final resolution professionals, the constitution of the committee of creditors, approval of a resolution plan, and liquidation if the plan is rejected. The code aims to facilitate a time-bound insolvency resolution process and improve ease of doing business in India through a consolidated framework.
The depository is an organization which holds of investors in electronic form at the request of the investors through a depository participant registered. It also provides services related to transactions in securities.
This circular from the State Bank of Vietnam outlines regulations for lending transactions between credit institutions and their customers. It defines key terms related to lending like loan term, repayment period, and overdue principal. It establishes rules for loan applications, types of loans, currency used, interest rates, fees, and more. Credit institutions must follow these rules when providing loans to their customers in Vietnam.
The document discusses the process of lodging and retiring shipping documents for import bills under a letter of credit. It describes how an issuing bank will scrutinize documents for completeness, consistency, compliance with standards, and conformity with credit terms. Documents found to comply will be paid, while non-compliant documents will not be paid and the procedure for handling discrepancies will be followed, including providing notice of refusal. It also briefly discusses settlement of foreign payments, including through the Asian Clearing Union, which facilitates payments between member country central banks.
This document is an application for leasing an instrument. It requests information from applicants such as personal details, company details, bank details, and intended use of the instrument. It outlines the process for leasing the instrument, including delivery procedures, payment terms, and signatures required from both the lessor and lessee.
This document provides information about housing finance, foreclosures, types of foreclosures (judicial sale, power of sale, strict foreclosure), mortgage law in Pakistan, types of mortgages (simple, conditional sale, usufructuary, English, equitable, anomalous), relevant sections of the Financial Institutions (Recovery of Finances) Ordinance 2001, and formats for demand notices issued under Section 15(2) of the Ordinance. The document defines key terms, outlines the legal processes and rights involved in foreclosures and recovery of finances through mortgaged properties in Pakistan.
Enforcement in china of foreign arbitral awards under the new york conventionRHKLegal
This document provides tips for maximizing the chances of successfully enforcing foreign arbitral awards in Chinese courts based on 20 years of experience. It recommends keeping documentation of service of notices, checking document requirements which vary by court, and involving the assigned judge at each step, as Chinese culture expects an active judicial role. The judge may help facilitate a settlement between the parties to avoid loss of face, such as a structured payment agreement. Any settlement should still involve the court to maintain pressure on the respondent to comply and complete payments.
This document outlines new guidelines issued by SEBI regarding the creation of security and due diligence performed by debenture trustees for listed debt securities. It specifies various documents and information that must be provided to the debenture trustee. This includes details of assets being offered as collateral, consent from existing charge holders, and financial details of any guarantors [1]. The debenture trustee must independently verify the assets, consents and perform due diligence [2]. Additional disclosure requirements in the offer document are also specified [3].
The document provides an overview of the Insolvency and Bankruptcy Code of India. Some key points:
- The Code aims to consolidate bankruptcy laws and establish time-bound insolvency resolution processes for companies, individuals, and partnerships.
- It allows for insolvency resolution and liquidation procedures for corporate debtors, individuals, and partnership firms.
- The Code defines financial creditors, operational creditors, and debt. It provides procedures for financial and operational creditors to initiate corporate insolvency resolution processes.
- The Code establishes the Insolvency and Bankruptcy Board of India as the regulator overseeing insolvency professionals and information utilities.
Doc1075 1 extending the time or the trusteemalp2009
1. The document establishes a liquidating trust agreement for FPFG Liquidating Trust to effectuate provisions of a Chapter 11 bankruptcy plan.
2. The trust is created to dispose of and liquidate debtor assets, distribute proceeds to claim holders, and make other payments required by the plan.
3. Matthew D. Orwig is appointed as trustee to administer the trust assets for the benefit of the debtor and distribute proceeds according to the plan.
This document provides guidance on proper telephone etiquette and techniques. It discusses topics like answering the phone promptly, identifying yourself clearly, speaking with a pleasant tone, closing calls effectively, transferring calls smoothly, and managing difficult callers. The document offers best practices for various telephone tasks as well as tips for making a good first impression and leaving a positive lasting impression on callers through professional telephone skills.
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2. OBJECTIVE
DRT is constituted under Recovery of Debts Due to Banks and Financial Institutions Act, 1993 ( ‘Act’)
providing speedy recovery for Banks and Financial Institutions unlike civil court and other forums.
Debt Recovery Tribunal (hereinafter referred as ‘DRT’) is a specially created forum for fast and
speedy recovery of debts due to Banks and Financial Institutions.
It is stipulated that DRT is to decide the Application as expeditiously as possible and endeavour
should be made to dispose the Application within 180 days from the receipt of Application.
3. CONSTITUTION OF DRT
DRT is constituted by the Central Government under Section 3 of Act to exercise the power
and jurisdiction as conferred by this act.
The Central Government may also specify the area where such DRT shall exercise its
jurisdiction.
4. COMPOSITION OF DRT
Staff of
Tribunal
Recovery Officer
Registrar
Assistant Registrar
Presiding
Officer
5. 1. Presiding Officer
Presiding Officer
Appointment
The PO is appointed by
Central Government. The
Central Government may
also authorise any other PO
or Judicial Member of a DRT
other than DRT to discharge
the function of PO of DRT.
Qualification
A person who is or has been
or qualified to be a District
Judge shall only be
appointed as a PO.
Term
The PO shall hold office for a
period of 5 years from the
date of his appointment or
attainment of 65 years
whichever is earlier. He/she
is eligible for reappointment.
6. 2. Recovery Officer
a) Appointment
The Central Government shall provide the DRT with one or more ROs.
b) Duties
ROs discharge their functions under the general superintendence of the PO. Primary duty of RO is to
execute the Recovery Certificate issued by PO after hearing the Original Application.
No objection to the Recovery Certificate on any ground shall be entertained by the RO and has got no
power to decide any legal question arising out of the final order, at the time of execution of the final
order.
He shall make recovery by any of the modes as provided by Chapter V of the Act.
7. 3. Registrar
a) Appointment
The Central Government shall provide the DRT with Registrar.
b) Duties
The Registrar is custodian of record of the DRT as well as of the seal of the DRT. Seal of DRT can be
used only under authority of Registrar in normal course or upon a specific direction by PO of the
DRT only.
The Registrar has authority to receive all documents/applications on behalf of DRT and will examine
them so that the same conforms to the Rules/Regulations of the DRT.
He/she may direct any party before DRT for carrying out necessary amendment in the documents or
for payment of proper Court fees and may fix date of hearing before PO.
8. 4. Assistant Registrar
a) Appointment
The Central Government shall provide the DRT with Assistant Registrar to whom the powers and
duties of the Registrar may be delegated.
b) Duties
The Assistant Registrar of the DRT shall assist the Registrar in the work relating to the Registry and
Administration of the DRT.
9. JURISDICTION OF DRT AND BAR OF
JURISDICTION
As per Section 17 of the Act DRT shall exercise the jurisdiction, powers and
authority to entertain and decide applications from the Banks and Financial
Institutions for recovery of debts due to such Banks and Financial Institutions.
10. 1. Territorial Jurisdiction
According to Rule 6 of the
Rules, OA shall be filed by
the Applicant with the
Registrar within whose
jurisdiction:
i.The Applicant is
functioning as a
Bank or Financial
Institution for the
time being, or
i.The Borrower, or each of
the Borrowers where there
are more than one, at the
time of making application,
actually and voluntarily
resides, or carries on
business, or personally
works for gain, or
i.Any of the Borrowers
where there are more than
one, at the time of making
the application, actually and
voluntarily resides, or
carries on business, or
personally works for gain, or
i.The cause of
action, wholly
or in part,
arises.
11. 2. Pecuniary Jurisdiction
i.The amount of debt due
to any Bank or Financial
Institution or to a
consortium of Banks or
Financial institutions is
more than ten lakhs (Rs.
10 Lacs) rupees.
i.The Central Government
may by notification
specify those cases not
being less than one lakh
(Rs.1 Lakh) to be
decided by DRT.
12. Bar of Jurisdiction
No court or other authority shall have, or be entitled to exercise, any
jurisdiction, powers or authority (except the Supreme Court and the High
Court exercising jurisdiction under Articles 226 and 227 of the
Constitution) in relation to the matters specified in section 17 of the Act.
14. 1. Original Application
a) Filing of Original Application
The Applicant/Applicants(Joinder of Applicants under Section 19(2) of the Act) may file an OA as per
Rule 4 of the Rules under Section 19 of the Act to the Registrar within whose jurisdiction his case falls.
OA may be presented either in Person or by his Agent or by duly authorised Legal Practitioners to the
Registrar or may sent by registered post addressed to registrar.
OA shall be presented in two (2) sets, in a paper book along with an empty file size envelope bearing
full address of the Borrower/Guarantor/Corporate Guarantor (commonly referred hereinafter as
‘Borrowers’)
If the number of Borrowers are more than one, then sufficient number of extra paper-books together
with empty file size envelopes bearing full address of each of the Borrower shall be furnished by the
Applicant.
Every OA shall be accompanied by the true copies of the document on which the Applicant relies.
A copy of the OA and paper book shall be served on each of the Borrower as soon as they are filed, by
registered post.
15. b) Documents to accompany OA
i. OA under Section 19 of the Act shall be accompanied by a paper book containing:
A statement showing details of the debt due from a Borrower and circumstances under which
such debt has become due; and shall also disclose details of the case and decision in that case
which is sought to be reviewed; (statement of account duly certified by bank under the Banker’s
Book of Evidence;
All documents relied upon by the Applicant and those mentioned in the OA;
Demand draft/Indian Postal Order representing the application fee;
Index of Documents.
16. ii. The documents referred above shall be neatly typed in double space on one side of the paper,
duly attested by a senior officer of the Bank or Financial Institution, as the case may be, and
numbered accordingly.
iii. Where the parties to the suit or proceedings are being represented by an agent, documents
authorising him to act as such agent shall also be appended to the OA.
iv. Provided that where an OA is filed by legal practitioner, it shall be accompanied by a duly
executed Vakalatnama.
17. c) Format of Application
Every OA as given in Rule 4 of the Rules shall be filed as per Form-I
annexed to the Rules. The format as provided is annexed herewith as
Annexure-1.
18. d) Relief
Banks and Financial Institution under each of the loan facility would file OA before DRT seeking the following
final reliefs:
i. To issue a Joint and Several Decree and a Recovery Certificate of recovery in favour of the
Bank/Financial Institution and against the Borrowers, for an amount due along with cost, pendent lite
and future interest and other charges at the contractual rates on the footing of the compound interest till
realization in full;
ii. Order for the auction sale of secured assets (including project, participating interest (PI), receivables,
movable assets, monies, cash flows, etc.) that are secured with the Applicant Bank/Financial Institution
towards the realization/ satisfaction of the decretal amount;
iii. Order that the decretal amount be recovered from the other assets and properties of Guarantor,
Corporate Guarantor under the Corporate Guarantee;
19. iv. In case debt, could not be recovered or fully satisfied by either of the above procedure the Applicant
may also claim sale of any other property of the borrower whether Tangible or Intangible, Movable or
Immovable.
v. Grant such other directions and/or reliefs as the Hon’ble Tribunal may deem fit and proper to meet
the ends of justice.
vi. Award costs of the present Application in favour of the Applicant.
20. e) Interim Relief
Banks/Financial Institutions under each of the loan facility would file OA before DRT seeking the following
interim reliefs:
i. Direct Borrowers to furnish security for an amount of equivalent to the due amount;
ii. Restrain the borrowers, their agents, employees, attorneys, representatives, successors, assigns etc.
from selling, disposing of or creating any third-party interest or creating any charge and/or
encumbrance in any manner over the entire assets secured under the entire transaction documents;
iii. Restraining the Borrower, guarantor and corporate guarantors from paying dues of any unsecured
creditors, borrowing or availing of facilities from other Banks/Financial institutions, from paying
remuneration to managerial personnel.
21. iv. The Applicant apprehends that the above secured properties and receivables, PI, monies may not be
sufficient to satisfy its claim, hence the borrowers be restrained by way of an interim ex-parte order from:
contracting any financial liability direct or contingent, or
altering its share capital, or
transferring, alienating or otherwise dealing with, or disposing off and/or creating any
fresh encumbrance including modification of existing charge with ROC, in any manner,
all their movable, immovable, tangible and intangible properties (whether owned through itself
or subsidiaries or tenanted and whether in single name or jointly with any other persons)
including vehicles, Bank lockers, Bank Accounts, Fixed Deposit Receipts, Demat Accounts, LIC
policies, Mutual Fund Schemes, Shares and Securities, hypothecated stocks, shares, Life
Insurance Policies, Mutual Funds, Bonds, plant & machinery, spares and consumables etc.
wherever lying and any other properties and assets belonging to them including beneficiary
interests without prior permission of this Hon’ble DRT;
v. Pass an ex-parte ad interim order directing the Borrowers to file a comprehensive affidavit of
their assets both in India as well as in foreign countries along with documentary evidence;
22. vi. Direct the Borrowers to disclose the list of PI and receivables due to it from third parties and direct
such third parties to deposit and/or attach such receivables with Court or route it directly to the
Applicant or any other account as may be directed by this Hon’ble DRT;
vii. Restraining the Borrowers from travelling and leaving the Jurisdiction of DRT or country as the same
will hamper and obstruct the recovery process initiated by the Applicant Bank and the Borrowers be
directed to deposit their passports before the Hon’ble Tribunal;
viii. Attachment of the whole or such portion of the Properties as claimed by the Applicant;
ix. Grant permission to the Applicant Bank to publish the Interim Order passed by the Hon’ble Tribunal,
in public interest, in leading English, Hindi or vernacular newspapers having wide publication;
x. Pass any other Order(s) as this Hon'ble DRT may in the facts and circumstances of the present case
deem fit and proper, in the interest of justice.
23. Publication of the name of borrower/guarantors
Where Borrowers defaults in repayment of loan a Bank/Financial Institution may publish its/their
names or make a public disclosure of the names of the defaulters in the local newspaper.
Publication of Photograph of defaulter – With respect to publication of photograph of
defaulters different High Courts have divergent views:
In favour – Madras High Court in Mr. K J Doraiswamy vs The Assistant General Manager, State
Bank of India Erode Branch & Ors., upheld Bank's right to publish the photograph of a borrower who
had defaulted on repayment of a loan along with details of the property that had been pledged as
security for the loan.
In favour – Madhya Pradesh High Court in Ku. Archana Chauhan v. State Bank of India, Jabalpur
held that publication of photographs of the borrowers cannot be said to be impermissible mode.
Action cannot be said to be arbitrary or illegal in any manner. It cannot be said to be defamatory
publication.
Against – Calcutta High Court in Ujjal Kumar Das & Anr. V/s State Bank of India & Ors. held that
publication of photographs in newspapers, magazines etc. not being permissible under any
rule/notification/guideline is illegal. Moreover, the threat to publish photographs is also illegal.
24. 2. Procedure
After OA is filed, DRT issues summon to borrowers to show cause
within 30 days as to why relief claimed by applicant should not
be granted, the DRT may also pass ex-parte ad-interim order,
under Section 19(4) of the Act.
According to Section 19(4A) of the Act after summons are served,
except in ordinary course of business for which the Borrowers
shall be accountable, they shall not dispose of the property
without prior approval of the DRT.
Under Section 19(5) within 30 days from service of summon
borrower shall file written statement along with the documents to
bring forth his defence.
The PO may if the written statement is not filed within the
stipulated time, extend the time not exceeding 15 days.
25. Every pleading to be accompanied with affidavit. Affidavit
of witnesses(if any) shall also be filed simultaneously.
On receipt or failure of filing of Written Statement the
DRT shall fix a date for hearing on admission or denial by
the parties under Section 19(5A) of the Act.
If borrower makes an admission of debt due then DRT
shall order to pay such amount to the extent of admission.
As per Section 19(5B) of the Act If borrower fails to
comply with the order then DRT shall issue Recovery
Certificate(RC) to the extent of amount admitted.
26. Once the pleadings of
both the parties are
complete then PO will
fix the date of tendering
of evidences by way of
affidavit.
Cross Examination
After tendering the
affidavit of evidence, on
application, the PO may in
the interest of justice may
allow the cross
examination of the
witnesses.
i.Section19(20)
ii.After hearing both
the parties, within 30
days of conclusion of
hearing DRT may pass
such interim or final
order/Recovery
Certificate {section
19(22) of the Act}
Such order includes
payment of interest from
the date on or before
which payment of the
amount, if found due, up
to the date of realization
or actual payment, for
initiation of Recovery
proceeding before the RO
under Chapter V of the
Act.
i.Section 19(24)
ii.The above OA must be
dealt expeditiously and
endeavour shall be made
to complete the
proceedings in 2 hearings
and dispose OA within 180
days from its receipt.
27. RECOVERY PROCEEDING BEFORE RO
A. The recovery proceeding shall be dealt by RO and governed by Second and Third Schedule to the
Income Tax Act 1961 and the Income Tax (Certificate Proceedings) Rules, 1962 read with
chapter V of the Act.
B. When Recovery Certificate (RC) is issued by PO then RO may issue a notice to Certificate Debtor to
pay the amount as specified in Recovery Certificate within 15 days of such notice. If Certificate
Debtor fails to do so the RO may proceed to recover the amount by any of the following modes:
by attachment and sale of the Borrowers movable or immovable property;
taking possession of property over which security interest is created and appointing receiver for the
same;
Arrest the Borrowers in civil prison;
Appointing receiver for the management of properties of the Borrowers;
Any other mode.
28. C. When the assets are realised by sale or otherwise the proceeds shall first be adjusted towards
the amount due and if their remains any balance the same shall be utilised towards any other
amount receivable and still if something remains then that shall be paid to the Borrower.
D. Once the decree/recovery certificate attains finality, the same neither can be objected nor
challenged on grounds of the correctness of the same or on any other ground before the RO.
E. If any objection is made on ground of attachment of such property in recovery proceeding which
is not liable to such attachment under the certificate, then the RO may investigate on such claim.
F. Any person aggrieved by the order of RO, may prefer an appeal within 30 days from such order to
the PO, DRT.
29. APPEAL
Appeal against DRAT
in High Court.
Appeal against the order
of DRT in DRAT.
Appeal against the
order of RO before
PO,DRT.
30. Any person (bank or financial institution or borrower) who is aggrieved by an order of the DRT
under this act, may prefer an appeal to DRAT having jurisdiction in the matter.
No right to appeal to the parties wherein order is passed by the DRT in pursuance of the consent
between the parties.
Every appeal should be filed within 30 days from the date copy of order of the DRT is made
available to the appellant.
If the DRAT is satisfied that there was sufficient cause for not filing an appeal within the
stipulated period, then DRAT may allow such appeal even after expiry of 30 days.
1.Appeal against the order of DRT
in DRAT(SECTION 20).
31. Deposit of Debt due – The Borrowers shall deposit with the DRAT 50% of the debt due from him
to the Bank or Financial Institution. The DRAT may, for reasons to be recorded in writing, reduce the
amount to be deposited but which shall not be less than 25% of the debt due.
The Supreme Court in Axis bank v. SBS Organic Private Ltd. And Ors held that an appeal before the
DRAT can be entertained only if the Borrowers deposits fifty per cent of the amount in terms of the
order passed by the Debt Recovery Tribunal or fifty per cent of the amount due from the Borrowers
as claimed by the secured creditor, whichever is less. The DRAT may reduce the amount to twenty
five percent.
The Supreme Court in Deluxe Cotton Corporation and Ors. V. Bank of Baroda held that appeal
filed along with the application of condonation of delay in filing the appeal, was nevertheless appeal
in the eyes of law. Therefore, bar under Section 21 of the Act would, apply even at stage of
consideration of Application for condonation of delay accompanying appeal under Section 20 of the
Act.
32. The appeal shall be dealt as expeditiously as possible and endeavour shall be made to dispose of
the appeal finally within 6 months from the date of receipt of appeal.
After hearing both the parties the DRAT may as it deems fit either confirm, modify or set aside the
order made by the DRT.
33. Any person (bank or financial institution or borrowers) who is aggrieved by an order of the
RO under this act, may prefer an appeal to the PO, DRT within thirty days (30 days) from the
date on which a copy of order is issued to him. (Refer Annexure-II).
After hearing both the parties the PO, DRT may as it deems fit either confirm, modify or set
aside the order made by the RO.
2. Appeal against the order of RO
before PO, DRT(Section 30)
34. Any person being aggrieved by the DRAT Order may challenge the same before High Court
under Article 226 of the Indian Constitution in a Writ Petition.
3. Appeal against DRAT Order
35. FEW DRT CASES ABOVE RS. 100
CRORES.
i. ICICI VS HANJER BIOTECH ENERGIES PVT. LTD.
ii. ICICI VS NAFTOGAZ INDIA PVT LTD.
iii. ICICI VS SPANCO LTD.
iv. EARCL & ORS. VS BIRLA SURYA
v. EARCL VS BABA GANGARAM INVESTMENT SERVICES PVT. LTD.
vi. UCO BANK VS REI AGRO LTD.
vii. SBI VS. CONTINENTAL CONSTRUCTION LTD.
viii. SBI VS. PAN INDIA MOTORS PVT. LTD.
ix. ICICI VS. ORIENTAL TRIMEX LTD.
x. AXIS BANK LTD. V. GOLF TECHNOLOGIES PVT. LTD.
36. VOCABULARY
1. Debt
It means any liability including interest claimed as due from any person by a Bank or Financial
Institution or their consortium during the course of any business activity undertaken by the Bank
or Financial Institution under any law for the time being in force in cash or otherwise, whether
secured or unsecured, or whether payable under a decree or order of any Civil Court or otherwise
subsisting on the date of the application.
The liability must be legally recoverable liability and will cover all those cases where liability is
secured by mortgage, charge, hypothecation or in any other manner known to law.
37. 2. Borrower – means any person who has been granted financial assistance by any Bank
or Financial Institution or who has given any guarantee or created any mortgage or
pledge as security for the financial assistance granted by any Bank or Financial
institution.
3. Defaulter – It means non-payment of any principal debt or interest thereon or any
other amount payable by a borrower to the Bank or Financial Institution.
4. Application – It means an Original Application filed under Section 19 of the Act and
includes an "Appeal" filed under section 30(1) of the Act.
5. Applicant - Where a Bank or Financial Institution must recover any debt from any
person, it makes an application called Original Application to the DRT against such
person. According, to the Rules Applicant includes:
Applicant means a person making an application under Section 19 of the Act;
Also, includes an Applicant who files an appeal under section 30(1) of the Act;
Applicant shall also include Asset Reconstruction Company;
Financial Institution does not include Non-Banking Financial Institution.
38. 7. Bank – For the purpose of DRT, Bank includes –
Banking company;
A corresponding new Bank;
State Bank of India;
A subsidiary Bank;
A Regional Rural Bank;
Asset Reconstruction Company.
8. Financial Institution – It includes:
A public financial institution within the meaning of Section 4A of the Companies Act, 1956 (1 of
1956);
Such other institution as the Central Government may, having regard to its business activity and
the area of its operation in India may specify.
39. ANNEXURE-I
FORM-I
(See Rule 4])
APPLICATION UNDER SECTION 19 OF THE RECOVERY OF DEBTS DUE TO
BANKS AND FINANCIAL INSTITUTIONS 2[ACT], 1993
For use in Tribunal's office.........................................
Date of filing.................................................................
Date of receipt by post ...............................................
or
Registration No ............................................................
Signature
Registrar
In the DEBTS RECOVERY TRIBUNAL
(Name of the place)
Between
A B Applicant
And
C D Defendant
*Delete whichever is not applicable.
DETAILS OF APPLICATION:
1. Particulars of the applicant:
(i) Name of the applicant:
(ii) Address of registered office:
(iii) Address for service of all notices
2. Particulars of the defendant
(i) Name of the defendant:
(ii) Office address of the defendant
(iii) Address for service of all notices
40. 3. Jurisdiction of the Tribunal:
The applicant declares that the subject matter of the recovery of debt due falls
within the jurisdiction of the Tribunal.
4. Limitation:
The applicant further declares that the application is within the limitation
prescribed in Section 24 of the Recovery of Debts to Banks and Financial
Institutions Act, 1993
5. Facts of the case:
The facts of the case are given below:
(Give here a concise statement of facts in a chronological order, each paragraph
containing as nearly as possible a separate issue, fact or otherwise)
6. Relief(s) sought:
In view of the facts mentioned in para 5 above, the applicant prays for the
following relief(s)—
(Specify below the relief(s) sought explaining the ground for relief (s) and the legal
provisions (if any) relied upon).
7. Interim order, if prayed for:
Pending final decision on the application, the applicant seeks issue of the following
interim order:
(Give here the nature of the interim order prayed for with reasons).
8. Matter not pending with any other court, etc.:
The applicant further declares that the matter regarding which the application has
been made is not pending before any court of law or any other authority or any
other Bench of the Tribunal.
9. Particulars of bank draft/postal order in respect of the application fee:
(1) Name of the bank on which drawn:
(2) Demand draft no:
or
(1) Number of Indian Postal Order(s):
(2) Name of the issuing post office:
41. (3) Date of issue of postal order (s);
(4) Post office at which payable:
10. Details of index:
An index in duplicate containing the details of the documents to be relied upon is
enclosed.
11. List of enclosures:
VERIFICATION
I........................son/daughter/wife of Shri......................being the .................(Name in full
and block letters) (designation) of............ (name of the company) holding a valid
power of attorney from..............(name of the company) do hereby verify that the
contents of paras 1 to 11 are true to my personal knowledge and belief and that I
have not suppressed any material facts.
Signature of the Applicant.
Place:
Date:
To
The Registrar,
..........................................
..........................................
42. ANNEXURE-II
FORM III
(Refer rule 4)
APPEAL UNDER SECTION 30(1) OF THE RECOVERY OF DEBTS DUE TO BANKS
AND FINANCIAL INSTITUTIONS ACT, 1993 (51 OF 1993)
For use of Tribunal's office ......................
Date of filing ......................
Date of Receipt by post ......................
Or
Registration No. ......................
Signature
Registrar
IN THE DEBTS RECOVERY TRIBUNAL
..................................
(Name of place)
Between
................................ Appellant(s)/Judgment-Creditor(s)
and
.............................. Respondent(s)/Judgment-Debtor(s)
Details of appeal:
(I) Particulars of the Appellant(s)
(i) Name of the appellant:
(ii) Address of the Registered office of the appellant:
(iii) Address for service of all notices:
(II) Particulars of the respondent(s):
(i) Name(s) of respondent:
(ii) Office address of the respondent:
(iii) Address for service of all notices:
(III) Jurisdiction of the Tribunal:
The appellant declares that the subject matter of the appeal falls within the
jurisdiction of the Tribunal.
43. (IV) Limitation:
The appellant declares that the appeal is within the limitation as prescribed in
section 30(1) of the Recovery of Debts Due to Banks and Financial Institutions Act,
1993 (51 of 1993).
(V) Facts of the case:
(Give here a concise statement of facts and grounds of appeal against the specific
order of Recovery Officer, in a chronological order)
(VI) Relief(s) sought:
In view of the facts mentioned in paragraph V above, the appellant prays for the
following relief(s).
(Specify below the relief(s) sought explaining the grounds of relief(s) and the legal
provisions (if any) relied upon).
(VII) Interim order, if prayed for--
Pending final decision on the appeal the appellant seeks issue of the following
interim order:
(Give here the nature of the interim order prayed for with reasons)
(VIII) Matter not pending with any other Court, etc.:
The appellant further declares that the matter regarding which this appeal has
been made is not pending before any Court of law or any other authority or any
other Tribunal(s).
(IX) Details of index - An index in duplicate containing the details of the documents
to be relied upon is enclosed.
(X) List of enclosures:
VERIFICATION
I ................... (name in full block letters) son/daughter/wife of .................. holding a
valid power of attorney from ..................... (Name of the company) do hereby verify
that the contents of para I to IX are true to my personal knowledge and belief and
that I have not suppressed any material fact(s).
Signature of the Applicant
Place:
Date:
To
Registrar
Debts Recovery Tribunal
………………………………..