Act. If any proceedings are initiated under the SARFAESI Act ,
even third parties can question by filing an Appeal under Section 17 the
RDDBFI Act ... Act also is a pointer to
that too. We have also noticed the scheme of the Act.
It has a limited jurisdiction. Under the Act
Section 18 of the
SARFAESI Act with Section 20 of the
RDDBFI Act, I find that in Section 18
not only the period of limitation ... also been excluded which is
provided in Section 20 of the RDDBFI
Act. This itself leaves no iota of doubt
that the legislature has consciously
SARFAESI Act ”) read with Section 18 of Recovery
of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to
as the “RDDBFI Act ... this connection, we would only remember Section
25 of the RDDBFI Act which facilitates attachment and sale of movable or
immovable properties of the defendants
sale
certificate, there is an alternative remedy available under the
RDDBFI Act, 1993, and the appellant, being the partner of the
partnership firm ... judis.nic.in
13
proceedings under the RDDBFI Act have attained finality and that
the property has been sold to the third party, a learned
Debts Due To
Banks And Financial Institutions Act, 1993. („the RDDBFI Act‟
for short)
7. The Official Liquidator thereafter filed an appeal before ... that even if a company is
in liquidation, the provisions of RDDBFI Act allow the RO to sell
the properties of the debtors by giving
Banks and Financial Institution Act, 1993
(hereinafter referred as RDDBFI Act, 1993) and after
establishment of Debt Recovery Tribunal at Jabalpur, the
civil suit ... within fifteen days as per Section 9 of the RDDBFI Act,
1993. It has also been held that the Recovery Officer,
though has confirmed
within the meaning of the 'debt' used in RDDBFI Act, 1993, were also raised. The Debt Recovery Tribunal-II, Chennai answered ... expression 'debt' is defined in Section 2(g) of RDDBFI Act, 1993, which reads as follows:-
2(g) debt means any liability (inclusive
which was dismissed.
iv) As per the Section 18 of the RDDBFI Act 1993, no Court
or other authority shall have or be entitled ... specified the jurisdiction after proceedings initiated
under Section 17 of the RDDBFI Act 1993, once the proceedings have
been initiated thereunder. Therefore, the present suit
matter in controversy did not come within the ambit of RDDBFI Act, 1993 and the Tribunal had no jurisdiction to decide it. They further pleaded ... itself, therefore, this case does not fall within the jurisdiction of RDDBFI Act, 1993 i.e. Recovery of Debts Due to Banks and Financial Institutions
disputed that the operation of the RDDBFI Act was stayed by the hon'ble Punjab and Haryana High Court, meaning thereby that the jurisdiction ... there could not be a vacuum. When the operation of the RDDBFI Act was stayed, it could not be said that the civil court also
