drt/securitisation acts

Querist : Anonymous (Querist) 11 May 2010 This query is : Resolved
The decree passed by DRT in favour of the bank has been set-aside by DRAT and cross examination in progress in DRT.Now can we file counter claim against the bank though it was not filed with WS originally.However,loss and damages claim is pending in the civil court and yet to be heard.Can we insist DRT to hear this claim by paying the required fees?Can I have some specific case in this regard?

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R.R. KRISHNAA (Expert) 11 May 2010
Dear anonymous,

Debt Recovery Tribunal cannot pass a decree. It can issue only recovery certificates. [See Sections 19(2) and 19(22) of the Act].

As per the latest judgment of the supreme court in the case of “Nahar Industrial Enterprises Ltd” an aggrieved borrower is entitled to file a civil suit for damages (for loss).

If the relief to be sought by way of counter claim before DRT is different from what has been sought before the civil court by way of suit then you may file the same before DRT otherwise not.

Good luck…

Uma parameswaran (Expert) 11 May 2010
As per my view DRT shall not issue recovery certificate but only Order.Recovery certificate issued by Recovery officer.Aggrieved borrower can also can move before DRT.You can file a petition in the O.A itself for any grievances in relation to case pending before the DRT.I could not understood about the counter claim you are asking about.

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