The Consumer Dispute Redressal Forums cannot hear complaints on the amounts decreed by the Debt Recovery Tribunals. Read Full Judgment... Hot Trending Topics Don’t litigate as a reflex action. Plan it properly Caught with its pants down, HSBC Bank agrees to pays $ 101 million to ward off ...
Criminal laws (Criminal Procedure Code and Indian Penal Code) Debt Recovery laws (Securitisation Act, Debt Recovery Tribunals) Evidence Act Insolvency and Bankruptcy Code Negotiable Instruments Act Transfer of Property Act Indian Stamp Act Basic principles of international trade and international laws. Rig...
Conciliation Commission or Arbitral Tribunal:an Arbitral tribunal or Conciliation Commission is constituted by Secretary-General. In most instances, the tribunals consist ofthree arbitrators:one appointedby the investor,another appointedby the State,and the third,presiding arbitratorappointedby agreement of ...
Any third party so appointed, shall adhere fully to the Code of Conduct on debt collection as applicable from time to time.Occurrence of one or more of the following events shall constitute an event of default and the Bank at its sole discretion may withdraw the Credit Card facility. The ...
In case chain title documents are deposited with Debt Recovery Tribunal (DRT) or any other court / forum / authority, the Bank / Authorised Officer will make an application for retrieving the original chain title documents from such tribunal / court / forum / authority. Till such time the...
In case chain title documents are deposited with Debt Recovery Tribunal (DRT) or any Court, the Bank/Authorized officer will make an application for retrieving the original chain title documents from Hon DRT or Court. Till such time Successful Bidder will have to bear with Authorized officer/ ...
agreements, or to disclose upon default committed by the Cardmember, with Reserve Bank of India, Income Tax Authorities, tribunals, courts, judicial bodies other banks, credit bureau, financial institutions or any other third party in conformity with the disclosure norms as applicable from time to...
Debt Recovery Tribunals (DRT), as well as Setting up of dedicated Stressed Asset Management Verticals (SAMVs) in banks for large-value NPA accounts have brought sharper focus on recovery. In spite of the best efforts, substantial amount of NPAs Still continue on balance sheets of banks primaril...
the Act states that judgments rendered under a system which does not provide impartial tribunals or procedures compatible with the requirements of due process of law shall neither be recognized nor enforced." Uniform Foreign Money-Judgments Recognition Act ("U.L.A."), Commissioners' Prefatory Note...
In 1998 the government established Debt Recovery Tribunals, with expedited enforcement proceedings. Expected time to enforce was cut to around 10 years. More reforms were introduced in May 2004. State-owned banks, which account for 90% of lending, were permitted to enforce out of court. On ...