Doubt regarding one time settlement

Querist : Anonymous (Querist) 28 November 2024 This query is : Resolved
What is Recovery Certificate in DRT?

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kavksatyanarayana (Expert) 28 November 2024
The PO shall issue a certificate of recovery along with the final orders for payment of debt with interest under his signature to the Recovery Officer for recovery of the debt specified in the certificate.

T. Kalaiselvan, Advocate (Expert) 28 November 2024
recovery certificate is a document issued by the Debt Recovery Tribunal (DRT) when a debtor is ordered to pay a debt. The DRT issues the certificate after a final order is passed following a hearing of all parties.
The recovery certificate is sent to the Recovery Officer (R.O.) for execution. The R.O. then issues a notice to the debtor, giving them 15 days to pay the amount. If the debtor doesn't pay, the R.O. can take action to recover the amount.

Dr. J C Vashista (Expert) 29 November 2024
Recovery Certificate is issued by the Presiding officer of the DRT adjudicating the OA filed by the Bank/ Financial Institution.
What is the actual problem and your dispute and locus standi, if any?

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