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1 - 5 of 5 (0.26 seconds)Section 21 in The Recovery Of Debts Due To Banks And Financial Institutions Act, 1993 [Entire Act]
Article 226 in Constitution of India [Constitution]
The Recovery Of Debts Due To Banks And Financial Institutions Act, 1993
Kerala Financial Corporation And Anr. vs Union Bank Of India on 22 February, 2002
Insofar as the judgment in Kerala Financial Corporation's case is concerned, the Debts Recovery Appellate Tribunal, Chennai, was considering an appeal filed at the instance of a Financial Institution, which was holding pari passu charge over the same secured asset. That apart, in the said judgment, there is absolutely no discussion as to the provisions of the Act except stating that "With regard to the waiver of the mandatory deposit of the 75% of the decree amount as contemplated under Section 21 of the Act, as rightly pointed by the Counsel for the appellant petitioner, the appellant is neither a borrower nor recovery certificate has been issued as against him....". This finding of the Debts Recovery Appellate Tribunal was not on the basis of the discussion of law with reference to the purport of Section 21 of the Act.
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