Legal Question in Banking Law in India

Re: Recovery procedure

File an application with the DRT for review.

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Re: Recovery procedure

On the face of it seems that you have faced the present matter since long, as being judgement debtor is advance stage of the case.

Now I will answer queires one by one

Q. Whether the recovery officer has power to examine the facts at the stage when recovery certificate already been issued?

Ans: At the stage of the recovery, power of examination of fact does not lie with the recovery officer and the same can be done by approaching the appropriate authority.

Q. If bank is found guilty of negligence and carelessness for the loss of perecious hypothecated and mortgaged property, can recovery office absolve the guaranteers from their personal guarantee on this behalf

Ans: The recovery officer do not have such powers and in case the Bank's Negligence can be proved, the matter can also be referred under Consumer Protection Act and the respective forum i.e. national Commission/State Commission/Distt. Forum can be approached.

Q. Recovery Officer is agree (in writing) with the carelesness of princial debtor which occured after the passing of decree (or original judgement).

Ans: Though recovery officer has not power to withdraw the recovery proceedings, yet any such agreement to the effect that the principal debtor was at fault and the Bank did not took adequate steps to ensure the recovery of mortgage property, may prove important document while proceeding the matter before the national commission or DRT.

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