statutorily to the secured creditors
(banks/ FIs.) to move the DRT under the DRT Act once again for recovery
of the balance in cases where ... fees for filing such application
to DRT under the DRT Act and, similarly, a borrower, aggrieved by an
action under Section
Debts Due to Banks and Financial Institutions
Act,1993 (the ‘ DRT Act ’) is a condition precedent to taking
recourse to the Securitisation and Reconstruction
Bombay Sales Tax Act, 1959 [for short "the
Bombay Act "] and Section 26B of the Kerala General Sales Tax Act, 1963 [for short ... Finance Corporation Act, 1948 , The State Financial
Corporation Act, 1951 , The Unit Trust of India Act, 1963 , Industrial Reconstruction
Bank of India Act
Toor submitted that DRT, who deals with these appeals has wide powers under Section 22 of the DRT Act and, therefore, all questions ... DRT. He submitted that the DRT's powers are plenary. In this judgment, the Supreme Court has held that the DRT can even
Act, 1957,
Section 30 of the Gift Tax Act, and Section 529-A of the
Companies Act, 1956 would have been incorporated in the DRT ... Act and the Securitisation Act on the one
hand and Section 38-C of the Bombay Act and Section 26-B of the
Kerala Act
DRT Act.
9. He also submitted that the Act was enacted in 2002, whereas the DRT
Act was enacted in 1993. As the Act ... initiated under Section 13 of the Act are
challenged. The Act had been enacted in 2002, whereas the DRT Act had
been enacted
Bank
against the respondent stood transferred to the DRT in view of Section 31
of DRT Act as the DRT came into existence ... debt has
been transferred to the DRT in view of Section 31 of the DRT Act with
effect from
Act, 1923 , the
State Financial Corporations Act, 1951 , the Employees
Provident Fund and Miscellaneous Provisions Act, 1952 , the
Estate Duty Act, 1953 , the Companies Act ... DRT Act or
the Securitisation Act , the provisions contained in those
Acts cannot override other legislations. Section 38-C of
the Bombay Act and Section
assets without
withdrawing or abandoning the OA filed before the DRT under the DRT
Act , the Supreme Court, after considering the arguments of both ... Act.
The aforesaid finding of the Supreme Court makes it clear that both
the Acts i.e. the Securitization Act, 2002 and the DRT Act
DRT Act
and Section 35 of the Securitisation Act give overriding effect to the
provisions of those Acts only if there is anything inconsistent contained ... DRT Act or Securitisation Act , the provisions contained in those
Acts cannot override other legislations............
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128. If the provisions of the DRT Act and Securitisation
