Debt Recovery Tribunals Should have the Powers to Order Attachment before Judgment
By
P. S. N. Prasad
The Debt Recovery Tribunals (DRT) were constituted under the Recovery of Debt due to Banks and financial institutions Act, 1993 to enable expeditious adjudication and recovery of debts due to bank and institutions and the matters connected therewith or incidental thereto. The Act has no provision to enable the DRT to pass orders of Attachment Before judgment (ABJ) without any delay. The attachment before judgment will enable the plaintiff to realise the amount of the decree. Banks and Financial Institutions require the aid and help of an order similar to attachment before judgment from Debt Recovery Tribunal to expedite the recovery of debt. Chapter 5 of the Act provides for recovery by tribunal, wherein the Act provides for attachment of sale of movable and immovable property of the defendant including arrest of the defendant and his detention in prison. But the Act has no provision with regard to passing of orders of attachment before judgment. The object of ABJ is to prevent the ....