https://www.taxtmi.com/caselaws?id=104992 Execution proceedings pending in a civil court when the Debt Recovery Tribunal was established were treated as falling within the expression "suit or other proceedings" in section 31 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, but not in a manner that required transfer where the execution had already advanced. Reading sections 18, 19, 25 and 31 together, the court applied the Act's object of expeditious debt recovery and held that such ongoing execution could continue in the civil court when transfer would cause delay and defeat that purpose. The decree-holder was entitled to receiver-assisted sale of the hypothecated securities. en-us Mon, 25 Oct 1999 00:00:00 +0530 Fri, 02 Mar 2012 11:03:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104992 Execution proceedings pending in a civil court when the Debt Recovery Tribunal was established were treated as falling within the expression "suit or other proceedings" in section 31 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, but not in a manner that required transfer where the execution had already advanced. Reading sections 18, 19, 25 and 31 together, the court applied the Act's object of expeditious debt recovery and held that such ongoing execution could continue in the civil court when transfer would cause delay and defeat that purpose. The decree-holder was entitled to receiver-assisted sale of the hypothecated securities. Case-Laws Companies Law Mon, 25 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104992