Lawgist logo - L! Lawgist.
The Recovery of Debts Due to Banks and Financial Institutions Act

17Jurisdiction, powers and authority of Tribunals

(1) A Tribunal shall exercise, on and from the appointed day, the jurisdiction, powers and authority to entertain and decide applications from the banks and financial institutions for recovery of debts due to such banks and financial institutions.

1[(1A) Without prejudice to sub-section (1),--

(a) the Tribunal shall exercise, on and from the date to be appointed by the Central Government, the jurisdiction, powers and authority to entertain and decide applications under Part III of Insolvency and Bankruptcy Code, 2016 (31 of 2016).

(b) the Tribunal shall have circuit sittings in all district headquarters.]

(2) An Appellate Tribunal shall exercise, on and from the appointed day, the jurisdiction, powers and authority to entertain appeals against any order made, or deemed to have been made, by a Tribunal under this Act.

2[(2A) Without prejudice to sub-section (2), the Appellate Tribunal shall exercise, on and from the date to be appointed by the Central Government, the jurisdiction, powers and authority to entertain appeals against the order made by the Adjudicating Authority under Part III of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).]

Download our fully-offline, High speed android app.- Click here

1. Ins. by Act 31 of 2016, s. 249 and the Fifth Schedule (w.e.f. 1-12-2019 in so far as they relate to personal guarantors to corporate debtors).

2. Ins. by s. 249, ibid., and the Fifth Schedule. (w.e.f. 1-12-2019 in so far as they relate to personal guarantors to corporate debtors).

Download the App Now!

Get our Android app for fast and offline Access.

Get it on Google Play
Lawgist is not a law firm and does not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes only and are not intended to be a substitute for professional legal advice. Use of this site is subject to our Terms and Conditions, Disclaimer, and Privacy Policy.About Us Made in ♥ with India, Internet and Lots of Courtroom Dramas