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POWERS OF DRT TO STAY ACTION AGAINST DEBTOR

(Querist) 08 July 2011 This query is : Resolved 
PLEASE LET US KNOW WHETHER DRT HAS INHERINT POWERS TO STOP THE CREDITOR BANK FROM PROCEEDING AGAINST DEFAULTER DEBTOR`S MOVABLES (MACHINERIES, FURNITURES BOOK DEBTS ETC).

WHETHER DRT HAS POWERS TO GRANT INJUNCTION STAYING THE CREDITOR BANK FROM TAKING INTO ITS POSSESSION OF MOVABLES OF DEFAULTED DEBTOR WITHOUT COURT DIRECTIONS / PROCEEDINGS.

WHAT IS THE PROCEDURE TO BE ADOPTED THROUGH DRT TO RESTRAIN THE CREDITOR BANK FROM PROCEEDING AGAINST AN NPA ACCOUNT.
DEFENSE ADVOCATE.-firmaction@g (Expert) 08 July 2011
DRT comes in picture only after action and not before.

If it is a real problem there are other methods.
RAJU O.F., (Expert) 10 July 2011
a)If bank is filing an Original Application(suit) against the defaulter borrower (if the dues are more than Rs.10 lakhs) under the RDDB&FI Act or b) if bank is proceeding under SARFAESI and the aggrieved person/ borrower filed a Securitisation Appeal before DRT, then DRT has all the powers to restrain the bank from further proceedings,or the owner of the movable and immovable properties from alienation.
SHAKTHIVEL (Querist) 11 July 2011
Thank you Mr.Raju, for your kind response as well advise.


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