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

20Appeal to the Appellate Tribunal

(1) Save as provided in sub-section (2), any person aggrieved by an order made, or deemed to have been made, by a Tribunal under this Act, may prefer an appeal to an Appellate Tribunal having jurisdiction in the matter.

(2) No appeal shall lie to the Appellate Tribunal from an order made by a Tribunal with the consent of the parties.

(3) Every appeal under sub-section (1) shall be filed within a period of 1[thirty days] from the date on which a copy of the order made, or deemed to have been made, by the Tribunal is received by him and it shall be in such form and be accompanied by such fee as may be prescribed:

Provided that the Appellate Tribunal may entertain an appeal after the expiry of the said period of 1[thirty days] if it is satisfied that there was sufficient cause for not filing it within that period.

(4) On receipt of an appeal under sub-section (1), 1[or under sub-section (1) of section 181 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016)] the Appellate Tribunal may, after giving the parties to the appeal, an opportunity of being heard, pass such orders thereon as it thinks fit, confirming, modifying or setting aside the order appealed against.

(5) The Appellate Tribunal shall send a copy of every order made by it to the parties to the appeal and to the concerned Tribunal.

(6) The appeal filed before the Appellate Tribunal under sub-section (1) shall be dealt with by it as expeditiously as possible and endeavour shall be made by it to dispose of the appeal finally within six months from the date of receipt of the appeal.

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

1 Subs. by Act 44 of 2016, s. 34, for "forty-five days" (w.e.f. 1-9-2016).

2 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)

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