Jurisdiction of DRT is above ten lakh. Question is, Can the barrower aggrievd by the action of the secured creditor appeal to DRT as provided in section 17 of the SARFAESI Act 2002, though the amount of the assets is below ten lakh?
N.K.Assumi (Advocate) 27 May 2010
Jurisdiction of DRT is above ten lakh. Question is, Can the barrower aggrievd by the action of the secured creditor appeal to DRT as provided in section 17 of the SARFAESI Act 2002, though the amount of the assets is below ten lakh?
Naresh Chandra Goyal (Chairman) 27 May 2010
When a borrower aggrieved by an order of the DRT under the SARFAESI Act 2002, the appeal would lie to the Debt Recovery Appellate Tribunal Delhi, irrespective of the fact of the amount of debt.
When the bank or financial institution files an OA(suit) before the DRT under the DRT Act 1993, then and there the amount of debt of Rs. 1000000 or more is a considerable factor.
For more help contact on 09414072738
N.K.Assumi (Advocate) 28 May 2010
Thank you for the responds.
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