https://www.taxtmi.com/caselaws?id=104715 The special recovery mechanism under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 was stated to confer exclusive jurisdiction on the Tribunal for adjudication and on the Recovery Officer for of recovery certificates, leaving no parallel role for ordinary courts or the company court. The pending winding up proceedings under the Companies Act, 1956 did not require leave of the company court or permit it to stay or transfer the recovery action. Distribution of sale proceeds was to be worked out by the Tribunal under the limited priority preserved by section 529A of the Companies Act, with workmen's dues retaining priority. A respondent-bank without its own adjudicated entitlement could not claim a share in the realised proceeds. en-us Mon, 10 Apr 2000 00:00:00 +0530 Sat, 20 Dec 2025 20:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104715 The special recovery mechanism under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 was stated to confer exclusive jurisdiction on the Tribunal for adjudication and on the Recovery Officer for of recovery certificates, leaving no parallel role for ordinary courts or the company court. The pending winding up proceedings under the Companies Act, 1956 did not require leave of the company court or permit it to stay or transfer the recovery action. Distribution of sale proceeds was to be worked out by the Tribunal under the limited priority preserved by section 529A of the Companies Act, with workmen's dues retaining priority. A respondent-bank without its own adjudicated entitlement could not claim a share in the realised proceeds. Case-Laws Companies Law Mon, 10 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104715