https://www.taxtmi.com/caselaws?id=126953 Recovery proceedings were not time-barred because the revenue recovery steps were initiated in 1994-95, before the loan repayment period expired on 10 February 1997, so the debt was not yet stale when action commenced. The Kerala Revenue Recovery Act could be used to recover dues of the Kerala Financial Corporation because section 34(2) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 preserved the State Financial Corporations Act, 1951, and section 32G of that Act authorises recovery as arrears of land revenue. The statutory scheme therefore supported use of the revenue recovery machinery, and the challenge failed. en-us Thu, 25 Feb 2010 00:00:00 +0530 Wed, 15 Oct 2014 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126953 Recovery proceedings were not time-barred because the revenue recovery steps were initiated in 1994-95, before the loan repayment period expired on 10 February 1997, so the debt was not yet stale when action commenced. The Kerala Revenue Recovery Act could be used to recover dues of the Kerala Financial Corporation because section 34(2) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 preserved the State Financial Corporations Act, 1951, and section 32G of that Act authorises recovery as arrears of land revenue. The statutory scheme therefore supported use of the revenue recovery machinery, and the challenge failed. Case-Laws Companies Law Thu, 25 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126953