Money recovery act
jayeshmankodi
(Querist) 06 April 2016
This query is : Resolved
That The suit has been filed by the Bank for recovery of agri.loan amount The advocate of opponent has submitted an written argument that The Money Recovery Powers has been vested to collector hence no direct suit can be filed for such recovery.
so pls. let me know that whether suit can be filed without approaching the collector forum first? or else now what should be the defence for the Bank?
regds
jayesh
Rajendra K Goyal
(Expert) 06 April 2016
How are you concerned?
If from Bank, discuss with your law department / panel advocate.
Rajendra K Goyal
(Expert) 06 April 2016
Repeated query:
http://www.lawyersclubindia.com/experts/Money-recovery-act-592576.asp#.VwUVd_l97IU
Kumar Doab
(Expert) 06 April 2016
Hope you shall take it positively.
Expert Mr. Goyal is right.
The corporate can engage the services of a Labor Law Consultant.
Another advantage is that the employee that is being asked to wet shall get a legal opinion, and shall not be held responsible later.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 06 April 2016
Agreecultural la d loan recovery is directed by court to recover by collector nor Receiver as per rules of Order in CPC
ADV-JEEVAN PATIL, MUMBAI
(Expert) 06 April 2016
Agreecultural la d loan recovery is directed by court to recover by collector nor Receiver as per rules of Order in CPC
Kunal Shah
(Expert) 07 April 2016
If you are from Uttar Pradesh, then I can help you, The statutes governing your case, if I presume you to be of UP, are U.P. Agricultural Credit Act, 1973 and U.P. Zamindari Abolition and Land Reform Act, 1950.
When the borrower took loan from you and defaulted you are required to move a recovery certificate to the Collector under Section 11A of U.P. Agricultural Credit Act, 1973.
This is done so that the amount to be recovered can be treated as an arrears of land revenue which the Collector is entitled to recover under Section 279 of the UP Zamindari Abolition and Land Reform Act 1950.
Further your suit would not be maintainable because under Section 330 (c) of the Zamindari Abolition Act, no suit or other proceeding shall lie in any Civil Court in respect of the recovery of any sum of money recoverable as arrears of land revenue.
Caution: UP Zamindari Abolition and Land Reform Act 1950 has been repealed and the new Act UP Land Revenue Code 2006 is into effect from 2016, which contains these provisions. So refer to these provisions under the new Code.
If you are from some other state please look into your State's Revenue Code, I am aware about Bihar Revenue Code having such provisions, but not about other states.
