Just a moment...

Top
Help
Upgrade to AI Search

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
Quick overview summary answering your query with referencesCategory-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
Detailed report covering:
     -   Overview Summary
     -   Governing Provisions [Acts, Notifications, Circulars]
     -   Relevant Case Laws
     -   Tariff / Classification / HSN
     -   Expert views from TaxTMI
     -   Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Explore AI Search

Powered by Weblekha - Building Scalable Websites

×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

Sections 17,18 and 31 RDB Act give DRT exclusive jurisdiction over assigned bank debt; suit properly transferred under Section 2(g)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....HC held that Sections 17 and 18 of the RDB Act confer exclusive jurisdiction on the DRT to entertain bank recovery applications and bar all other courts, including in pending suits, and that Section 31 must be purposively read subject to that bar. The court concluded that a monetary claim assigned to a bank falls within the definition of "debt" under Section 2(g). Consequently, following the amalgamation of the original plaintiff into the present plaintiff bank, the subject suit fell within DRT jurisdiction and the trial court correctly transferred the matter to the DRT. The petition challenging transfer was dismissed with no order as to costs.....