FAQ About Suits Filed by Borrower/guarantors in Civil Court

recovery-of-debts-and-bankruptcy-act-faq

FAQ About Suits Filed by Borrower/guarantors in Civil Court

Answer: Original Application filled by the bank cannot be stayed on the basis of previously instituted suit by borrower. Gagan Khosla –Versus- IFCI (2004)1 DRTC 176 (DRAT Delhi).

Answer: It has been held by the Supreme Court of India in the case of Bank of Rajasthan – Versus – V. C. K. Shares & Stock Broking Services Ltd. reported in (2023)1 Supreme Court Cases Page 1 that a defendant in Original Application has the choice of filing counter claim or a separate suit. However, Original Application cannot be stayed till the disposal of the Separate suit. A separate suit cannot be transferred to Debts Recovery Tribunal.

Recent FAQs

FAQ About Filing of Recovery Application(Original Application) in Debt Recover Tribunal

Know more about frequently asked questions [...]
FAQ About the Meaning of “debts”

Know more about frequently asked questions [...]
FAQ About What Should Be Done by Debts Recovery Tribunal After the Banks/financial Institutions File the Recovery Application(Original Application)

Know more about frequently asked questions [...]
FAQ About What Are the Power of Debts Recovery Tribunal About Passing of Interim Order Like Injunction, Attachment, Receiver

Know more about frequently asked questions [...]
FAQ About Written Statement to Be Filed by Borrower/guarantor Including Counter Claim/set Off

Know more about frequently asked questions [...]
FAQ About Judgment on Admission or When the Borrower Admit the Claim of the Bank/ Financial Institution Either in Full in Part

Know more about frequently asked questions [...]
FAQ About the Procedure for Proving Facts and Documents on by Bank/ Financial Institution or by Borrower/guarantors

Know more about frequently asked questions [...]
FAQ About Suits Filed by Borrower/guarantors in Civil Court

Know more about frequently asked questions [...]
FAQ About the Final Order That May Be Passed by Debts Recovery Tribunal on the Recovery Application(Original Application) Filed by Banks/ Financial Institutions

Know more about frequently asked questions [...]
FAQ About Final Order / Certificate Against a Dead Person

Know more about frequently asked questions [...]
FAQ About Appeals to Debts Recovery Tribunals

Know more about frequently asked questions [...]
FAQ About Pre-deposit for Preferring an Appeal to Debts Recovery Tribunals Under RDB Act, 1993

Know more about frequently asked questions [...]
FAQ About the Procedure Which is to Be Followed by Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Under Rdb Act, 1993

Know more about frequently asked questions [...]
FAQ About the Power of Recovery Officer and About the Procedure of Recovery Officer

Know more about frequently asked questions [...]
FAQ About the Power of Presiding Officers After Issuing a Recovery Certificate

Know more about frequently asked questions [...]
FAQ About Filing an Appeal Before the Presiding Officer Against an Order of the Recovery Officer of Debts Recovery Tribunal

Know more about frequently asked questions [...]
FAQ About Sale by Recovery Officer

Know more about frequently asked questions [...]
FAQ About Arrest Detention in Civil Prison

Know more about frequently asked questions [...]
FAQ About Various Misc. Matters Under RDB Act,1993

Know more about frequently asked questions [...]