https://www.taxtmi.com/caselaws?id=108556 Issuance of a recovery certificate under the Recovery of Debts Due to Banks and Financial Institutions Act requires prior notice and a fair opportunity of hearing, especially where the Tribunal relies on an alleged admission of debt. The statutory scheme contemplates that the defendant must be heard before any certificate is issued to the admitted extent and allowed the prescribed time to pay. An order passed without any application, without notice that it would be considered, and without opportunity to meet the proposed basis is contrary to natural justice and unsustainable. In that situation, insistence on pre-deposit under the appellate provision is also unwarranted, and waiver should be granted. en-us Thu, 17 Oct 2002 00:00:00 +0530 Mon, 02 Apr 2012 15:54:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108556 Issuance of a recovery certificate under the Recovery of Debts Due to Banks and Financial Institutions Act requires prior notice and a fair opportunity of hearing, especially where the Tribunal relies on an alleged admission of debt. The statutory scheme contemplates that the defendant must be heard before any certificate is issued to the admitted extent and allowed the prescribed time to pay. An order passed without any application, without notice that it would be considered, and without opportunity to meet the proposed basis is contrary to natural justice and unsustainable. In that situation, insistence on pre-deposit under the appellate provision is also unwarranted, and waiver should be granted. Case-Laws Companies Law Thu, 17 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108556