Section 17 of the act is given below:
17. Right to appeal
(1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) ofsection 13 taken by the secured creditor or his authorised officer under this Chapter, may make an application alongwith such fee, as may be prescribed to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measure had been taken:
PROVIDED that different fees may be prescribed formaking the application by the borrower and the person other than the borrower.
Explanation
: For the removal of doubts, it is hereby declared that the communication of the reasons to the borrower by the secured creditor for not having accepted his representation or objection or the likely action of the secured creditor at the stage of communication of reasons to the borrower shall not entitle the
person (including borrower) to make an application to the Debts Recovery Tribunal under this sub-section.
(2) The Debts Recovery Tribunal shall consider whether any of the measures referred to in sub-section
(4) of section 13 taken by the secured creditor for enforcement of security are in accordance with the provisions of this Act and the rules made thereunder.
(3) If, the Debts Recovery Tribunal, after examining the facts and circumstances of the case and evidence produced by the parties, comes to the conclusion that any of the measures referred to in sub-section
(4) of section 13, taken by the secured creditor are not in accordance with the provisions of this Act and the rules made thereunder, and require restoration of the management of the business to the borrower or
restoration of possession of the secured assets to the borrower, it may by order, declare the recourse to anyone or more measures referred to in sub-section (4)of section 13 taken by the secured creditors as invalid and
restore the possession of the secured assets to the borrower or restore the management of the business to the borrower, as the case may be, and pass such order as it may consider appropriate and necessary in relation to
any of the recourse taken by the secured creditor under sub-section (4) of section 13.
(4) If, the Debts Recovery Tribunal declares the recourse taken by a secured creditor under sub-section (4) of section 13, is in accordance with the provisions of this Act and the rules made thereunder, then,notwithstanding anything contained in any other law for the time being in force, the secured creditor shall be entitled to take recourse to one or more of the measures specified under sub-section (4) of section 13 to
recover his secured debt.
(5) Any application made under sub-section (1) shall be dealt with by the Debts Recovery Tribunal as expeditiously as possible and disposed of within sixty days from the date of such application:
PROVIDED that the Debts Recovery Tribunal may, from time to time, extend the said period for reasons to be recorded in writing, so, however, that the total period of pendency of the application with the Debts Recovery Tribunal, shall not exceed four months from the date of making of such application made under sub-section (1).
(6) If the application is not disposed of by the Debts Recovery Tribunal within the period of four months as specified in sub-section (5), any part to the application may make an application, in such form as may be
prescribed, to the Appellate Tribunal for directing the Debts Recovery Tribunal for expeditious disposal of the application pending before the Debts Recovery Tribunal and the Appellate Tribunal may, on such applica
tion, make an order for expeditious disposal of the pending application by the Debts Recovery Tribunal.
(7) Save as otherwise provided in this Act, the Debts Recovery Tribunal shall, as far as may be, dispose of the application in accordance with the p
rovisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the rules made thereunder
The borrowers can at any time before the sale is concluded, remit the dues and avoid loosing the security. In case any unhealthy/illegal act is done by the Authorised Officer, he will be liable for penal consequences. The borrowers will be entitled to get compensation for such acts. For redressing the grievances, the borrowers can approach firstly the DRT and thereafter the DRAT in appeal. The limitation period is 45 days and 30 days respectively
© 2009-2013 https://www.gktoday.in
The borrowers can at any time before the sale is concluded, remit the dues and avoid loosing the security. In case any unhealthy/illegal act is done by the Authorised Officer, he will be liable for penal consequences. The borrowers will be entitled to get compensation for such acts. For redressing the grievances, the borrowers can approach firstly the DRT and thereafter the DRAT in appeal. The limitation period is 45 days and 30 days respectively
© 2009-2013 https://www.gktoday.in
The borrowers can at any time before the sale is concluded, remit the dues and avoid loosing the security. In case any unhealthy/illegal act is done by the Authorised Officer, he will be liable for penal consequences. The borrowers will be entitled to get compensation for such acts. For redressing the grievances, the borrowers can approach firstly the DRT and thereafter the DRAT in appeal. The limitation period is 45 days and 30 days respectively
© 2009-2013 https://www.gktoday.in
The borrowers can at any time before the sale is concluded, remit the dues and avoid loosing the security. In case any unhealthy/illegal act is done by the Authorised Officer, he will be liable for penal consequences. The borrowers will be entitled to get compensation for such acts. For redressing the grievances, the borrowers can approach firstly the DRT and thereafter the DRAT in appeal. The limitation period is 45 days and 30 days respectively
© 2009-2013 https://www.gktoday.in
The borrowers can at any time before the sale is concluded, remit the dues and avoid loosing the security. In case any unhealthy/illegal act is done by the Authorised Officer, he will be liable for penal consequences. The borrowers will be entitled to get compensation for such acts. For redressing the grievances, the borrowers can approach firstly the DRT and thereafter the DRAT in appeal. The limitation period is 45 days and 30 days respectively
© 2009-2013 https://www.gktoday.in
The borrowers can at any time before the sale is concluded, remit the dues and avoid loosing the security. In case any unhealthy/illegal act is done by the Authorised Officer, he will be liable for penal consequences. The borrowers will be entitled to get compensation for such acts. For redressing the grievances, the borrowers can approach firstly the DRT and thereafter the DRAT in appeal. The limitation period is 45 days and 30 days respectively
© 2009-2013 https://www.gktoday.in
