https://www.taxtmi.com/caselaws?id=196530 A bank's suit for recovery of a loan secured by mortgage, with a prayer for sale of the mortgaged property, remains a suit for recovery of debt and is capable of transfer to the Debt Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The mortgage is treated as collateral security, so the claim does not fall outside the Tribunal's recovery jurisdiction merely because secured assets are also sought to be sold. The Act's recovery machinery, including recovery certificates and sale of immovable property, is sufficient, and the Transfer of Property Act does not bar transfer where the cause of action arises from the loan transaction itself. en-us Fri, 02 Feb 1996 00:00:00 +0530 Tue, 05 Dec 2017 13:03:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196530 A bank's suit for recovery of a loan secured by mortgage, with a prayer for sale of the mortgaged property, remains a suit for recovery of debt and is capable of transfer to the Debt Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The mortgage is treated as collateral security, so the claim does not fall outside the Tribunal's recovery jurisdiction merely because secured assets are also sought to be sold. The Act's recovery machinery, including recovery certificates and sale of immovable property, is sufficient, and the Transfer of Property Act does not bar transfer where the cause of action arises from the loan transaction itself. Case-Laws Indian Laws Fri, 02 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196530