Only financial institutions not anyone can file a case under the the ARAA for recovery of debts. Now, funded liability, so far I understand it. The Artha Rin Adalat Ain is related to the loan recovery process. Section 19 of the Act deals with the process for a loan defaulter’s. Section 37(1) of the Artha Rin Adalat Ain, (also known as Money Loan Court Act, ) provides that subject to the provision of.
|Published (Last):||26 August 2018|
|PDF File Size:||14.56 Mb|
|ePub File Size:||6.45 Mb|
|Price:||Free* [*Free Regsitration Required]|
Therefore, the question raised can be decided at the trial of the suit and at the time of receiving evidence from the parties.
This Act under Section 19, gives right to the borrowers to redress grievances against judgment and decree, whether ex-parte or contested.
At this stage, since, the Bank issued legal notice under both of the above laws, hence, two cases may be instituted under said distinct laws simultaneously. Cases Referred to- Nur Muhammad Vs.
On the question of removal the name of Bangladesh House Building Finance Corporation from the definition clause of Artha Rin Adalat Ain,it is found that the Appellate Division pronounced the judgment on i. About us Contact us Terms of Service. Sections 28 337 and 60 3 —.
August 6, at 7: Section 6 zdalat the Arthan Rin Adalat Ainor for that matter Section 20 of Ain, create a bar in proceeding with a subsequent suit making a prayer for setting aside an ex-parte decree even on the ground of fraud or even with a prayer for another declaration for the Power of Attorney and Memorandum of Deposit of Title Documents as forged, fabricated and false rather the only remedy available for the opposite party No.
Sections 6 5 and 57 —. Abdul Malek Hawlader, Ad.
Since there was no suit of the Financial Institutions pending before any Commercial Court after The two other decisions relied upon by the opposite party, are also for the same reason namely both the prayer made in the plaint in Title Suit No.
The provision of warrant of arrest has been specifically incorporated by the legislature in order to ensure speedy recovery of long standing dues which remained unadjusted by the loan defaulters using the language. Rafiqul Islam Farook Vs. You are commenting using your Twitter account. Section 50 2 —.
Remedial provisions of Artha Rin Adalat Ain
Please call me at the given contact number. In this way the court can get rid of the requirement of serving personally as in many cases the address of the defendant is wrong or something unexpected occurs [section 7 2 of ARAA]. Provisions of section 34 of the Artha Rin Adalat Ain, that the law provides for simple civil imprisonment of the judgment-debtor to compel to make the payment for satisfaction of the decree and is not an alternative punishment in lieu of payment of the decretal amount.
Civil Petition for Leave to Appeal No. National Bank Limited and others justified the condition of appeal through referring it as a mere condition of appeal in a regular suit, which cannot be equated with other laws. In view of the overwhelming evidence regarding the arrival of the goods and after releasing the same kept in the Bank’s godown for 9 years had to sell the same in public auction and Bank informed his client regularly in each stage, it can not be accepted the contention that the defendants were not aware of all these things.
Artha Rin Adalat Ain, (VII of ) – The Lawyers and Jurists
More News Banking industry: Mohiuddin Chowdhury, 49 DL. Proceedings under Artha Rin Adalat Ain may be initiated only after expiry of this period or when the borrower fails to pay the loan amount as per order of the court. Ashfaqul Islam J Md. Since the intention of law is not to put a person unconnected with the loan transaction into the rigorous procedure of a special statute for protection of his property under the ordinary law.
Remedial provisions of Artha Rin Adalat Ain 2003
Moreover, the time limit fixed by section 37 of the Ainfor disposal of execution case within days being “directory” not “mandatory”, as decided in Writ Petition No. Respondent Judgment July 8, In this regard, this mentionable aih, according to section 46 of Artha Rin Adalat Ain. Thereupon he challenged the said or. Salauddin and others Civil 1 LNJ 1. Salauddin and others Civil1 LNJ 1. Since specific provision is not available in the Act enabling the Artha Rin Court to put the decree-holder into possession, the Court may exercise its such jurisdiction as provided in rules 97 and 98 under Order XXI of the Code read with section 26 of the Act, and give necessary directions to execute its order.
However, if there is any irregularity in the sale, then the defendant can claim damages aib the financial institution [section 12 8 of ARAA].