https://www.taxtmi.com/caselaws?id=111041 Secured creditors may invoke SARFAESI enforcement under sections 13 and 14 even after a recovery certificate is issued under the Recovery of Debts Due to Banks and Financial Institutions Act, because the two remedies operate concurrently and the later statute is additional, not exclusive. A borrower does not cease to be a borrower merely because the Debts Recovery Tribunal has passed an order or a recovery certificate has been issued; the status continues so long as the financial liability remains unpaid. In a non-Metropolitan area, the Chief Judicial Magistrate is competent to exercise section 14 powers as the counterpart of the Chief Metropolitan Magistrate. The objections were rejected and the petition was dismissed. en-us Fri, 02 Dec 2005 00:00:00 +0530 Thu, 19 Apr 2012 18:53:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111041 Secured creditors may invoke SARFAESI enforcement under sections 13 and 14 even after a recovery certificate is issued under the Recovery of Debts Due to Banks and Financial Institutions Act, because the two remedies operate concurrently and the later statute is additional, not exclusive. A borrower does not cease to be a borrower merely because the Debts Recovery Tribunal has passed an order or a recovery certificate has been issued; the status continues so long as the financial liability remains unpaid. In a non-Metropolitan area, the Chief Judicial Magistrate is competent to exercise section 14 powers as the counterpart of the Chief Metropolitan Magistrate. The objections were rejected and the petition was dismissed. Case-Laws Companies Law Fri, 02 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111041