Animesh Pandey 18 October 2023
I want to know that if the High Court has passed an order for Liquidation of a Company under Companies Act, then after passing of such order can the Banks or Financial Institutions who have the security interest over the assets of that company can go and obtain a recovery certification from DRT under RDB Act and proceed to Auction the assets of such company with Liquidator's consent on it?
T. Kalaiselvan, Advocate (Advocate) 19 October 2023
DRT gets the authority to entertain debt recovery-related applications from financial institutions and banks from section 17 of the Recovery of Debt and Bankruptcy Act-1993. While deciding the cases, the Debt Recovery Tribunal (DRT) acts as a District Court.
Real Soul.... (LEGAL) 19 October 2023
Has the Court already allowe them to do so ? you must see the judgment and you were suppoused to file a liquidation plan to get reflected in court's judgment
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