Hi,
A recovery certificate is being issued by the presiding officer, DRT against bank dues.
The certificate holders (banks) have filed an application with the recovery officer for an arrest warrant against the defendant, who is an aged senior citizen with health complications.
The defendant does not have enough money to settle the certificate amount. However, he has given a compromise proposal to the Bank for consideration. The compromise proposal has not been declined by them in writing. However, verbally they have conveyed that they are not happy with the proposed settlement amount.
Two-three years ago, the defendant had sold a piece of agricultural land to meet his medical and day-to-day expenses. It must be noted that the proceeds from this sale are not enough to settle the entire recovery certificate amount and a large part of it has been spent to meet his medical needs. The defendant has been hospitalized 7-8 times in the past year.
After getting information of this transaction, the banks have filed an appeal with the presiding officer under Income Tax Act, 1961 for seeking annulment of the sale transaction.
We would like to know whether the banks will be able to get an arrest warrant issued against a senior citizen with such health issues?
