https://www.taxtmi.com/caselaws?id=213378 A recovery certificate under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 is binding on the company and the Official Liquidator, but it cannot be enforced through proof-of-debt proceedings, which are not a mode of execution under that statute. In liquidation, the Official Liquidator may admit or reject claims only in accordance with the Companies Act, 1956 and the Company (Court) Rules, 1959, including valuing debts as on the winding-up date and limiting interest under the prescribed winding-up rules. The Company Court's jurisdiction under section 446 does not extend to executing the certificate, or to reopening charge-registration or alleged relinquishment issues that would trench upon the tribunal's determination. en-us Tue, 07 Jun 2011 00:00:00 +0530 Sun, 20 May 2012 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213378 A recovery certificate under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 is binding on the company and the Official Liquidator, but it cannot be enforced through proof-of-debt proceedings, which are not a mode of execution under that statute. In liquidation, the Official Liquidator may admit or reject claims only in accordance with the Companies Act, 1956 and the Company (Court) Rules, 1959, including valuing debts as on the winding-up date and limiting interest under the prescribed winding-up rules. The Company Court's jurisdiction under section 446 does not extend to executing the certificate, or to reopening charge-registration or alleged relinquishment issues that would trench upon the tribunal's determination. Case-Laws Companies Law Tue, 07 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213378