JAIIB LRAB Unit 32 - Recovery Of Debts Determined By Tribunal and Miscellaneous Provisions

Review of the Order/Recovery Certificate – within 60 days of passing the order or issuing the certificate.

A company is under winding up process. Whether High Court permission is required to a Bank to proceed against it before DRT - No, as the DRT Act being a special Law having overriding effect over other laws.

Recovery Officers appointed under DRT Act can attach and sale movable as well as immovable property of the person against whom order is passed even it the property is not charged to the creditor.

If the recovery certificate has clerical / arithmetical mistake Presiding Officer of the Tribunal can correct the same.