Read detailed DRT legal questions and professional answers provided by experienced DRT lawyers to help users understand banking disputes, SARFAESI matters, debt recovery procedures, and legal remedies.
Question:
What happens after DRT passes final recovery order?
Answer:
On receipt of final Recovery order from DRT, the Presiding Officer will issue Recovery Certificate to the Recovery Officer, specifying the amount of debt recoverable by him. The Recovery Officer may then recover the certified debt amount by attachment and sale of movable/ immovable property belonging to judgment debtor, or secured assets, or by taking management or possession of the secured assets, or appointing receiver, or any other mode as may be prescribed.