(2) Where a bank or a financial institution has to recover any debt from any person, it may make an application to the Tribunal within the local limits of whose jurisdiction—
(a), the defendant, or each of the defendants where there are more than one, at the time of making application, actually and voluntarily resides, or carries on business, or personally works for gain; or Applica, tion to the Tribunal.
<J THE GAZETTE OF INDIA EXTRAORDINARY [FA*T .H-r- Appeal to the Appellate Tribunal.
• (b) any of defendants, where there are more than one, at the time of making the application, actually and voluntarily resides* or carries on business, or personally works for gain; or
(c) the cause of action, wholly or in part, arises."" • :
(2) Every application under sub-section (1) shall be in such form and be accompanied by such documents or other evidence and by such fee for filing the application as may be prescribed;
Provided that the fee may be prescribed having regard t© the amount of debt to be recovered: -.- .-- . .-- • • •
Provided further that nothing contained in this sub-section relating to fee shall apply to cases transferred to the Tribunal under sub-section
(1) of section 31. - , ...
(5), Oh receipt of the application under sub-section (1), the Tribunal shall issue summons requiring the defendant to show cause within-'thirty days of the service of summons as to why the relief prayed for rshould not be granted. . •-. . .- ... , . - ...' - . -"„ -. . • - _ . - - - ,
(4) The Tribunal m$../aftergiving' the applicant and the defendant an opportunity of being ixeWd, pass such orders on the applIcatidnVs'It thinks fit to meet the enSs'oS Justice.
(5) The Tribunal shall send a copy of every order passed by it to the applicant and the defendant.
(6) The Tribunal may make an Interijn order (whether by Way of injunction or stay) against the defendant to debar him from transferring, allienating or otherwise dealing with, or disposing of, any property and assetg belonging to him without the prior permission of the Tribunal.
(7) Th© Presiding Offieer^shall issue a certificate under .his signatures on the basis of the order of the Tribunal, to the. Recovery Officer for recovery of the amount of debt specified in the certificate.
(8), The application made to the Tribunal under sub-section (!) shall be dealt with by it as exgeditiotisly as possible and endeavour shall be made by it to dispose of the application finally within six months *roni the date of receipt of application. '"r
20. (I) Save as otherwise provided in gut-section (2), any person aggrieved by an .order made, or deeded to have b'een macle^ By s Tribunal under this Ordinance, may prefer "an appear to an Appellate ^Tri^unal having jurisHiction in tn*e 'maffief. " " _ T
(2) No appeal shall lie to the Appellate Tribunal from an order made by a Tribunal with the",coftsent of She parties.
(3) Every appeal urfiJef 'sXjS-sectlon ftl) shall be filed within a period of forty-five 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 th©- said period ot forty-five, days if it is satisfied that there was sufficient cause for not filing it within that period.
SEC. ! 1] THE GAZETTE OF INDIA EXTRAORDINARY 7 5 of 1908.
S of 1908.
45 of 1860, 2 of 1974.
(4) Oh receipt of an appeal under sub-section (1), 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 field 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.
21. Where an appeal is preferred by any person from whom the amount of debt is due to a bank or a financial institution or a consortium of banks or financial institutions, such appeal shall not be entertained by the Appellate Tribunal unless such person has deposited with the Appellate Tribunal seventy-five percent of the amount of debt so due from him as determined by the Tribunal -under section 19:
Provided that the Appellate Tribunal may, for reasons to-be recorded in writing, waive or reduce the amount to be deposited under this section.