The notification authorizes the Chairperson of the Debts Recovery Appellate Tribunal (DRAT), Chennai, to also function as the Chairperson of the DRAT, Mumbai, for specific cases.
This authorization is specifically for deciding appeals related to 'Juana Sanjeev Uppal vs Indus Mechanical Engg. Co. Pvt. Ltd.' (Appeal No. 135 of 2023) and 'Urmila & Co. Ltd., Union Bank of India vs Indus Mechanical Engg. Co. Pvt. Ltd.' (Appeal No. 146 of 2023).
Key Changes
The Chairperson of DRAT Chennai is authorized to perform the functions of the Chairperson of DRAT Mumbai for the specified appeals, in addition to their existing responsibilities in Chennai.
The authorization is granted by the Central Government, exercising powers under sub-section (3) of section 8 of the Recovery of Debts and Bankruptcy Act, 1993.
The notification is effective from April 12, 2024.
Impact Analysis
Stakeholders
Ministry of Finance (Department of Financial Services): The department is responsible for issuing the order and overseeing the functioning of DRATs.
Suggested Action Items
Ministry of Finance (Department of Financial Services): Monitor the implementation of this order and assess its impact on the efficiency of DRAT operations.
Key Entities Referenced
Recovery of Debts and Bankruptcy Act, 1993: The Act provides the legal framework for the establishment of Debts Recovery Tribunals and Appellate Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions.
Debts Recovery Appellate Tribunal (DRAT), Chennai: A quasi-judicial body established under the Recovery of Debts and Bankruptcy Act, 1993, to hear appeals against orders passed by Debts Recovery Tribunals within its jurisdiction.
Debts Recovery Appellate Tribunal (DRAT), Mumbai: A quasi-judicial body established under the Recovery of Debts and Bankruptcy Act, 1993, to hear appeals against orders passed by Debts Recovery Tribunals within its jurisdiction.
Ministry of Finance (Department of Financial Services): The department is responsible for overseeing the functioning of banks, financial institutions, and related tribunals, including DRATs.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 1625] नई ददल्ली, सोमिार, अप्रैल 15, 2024/चत्रै 26, 1946
No. 1625] NEW DELHI, MONDAY, APRIL 15, 2024/CHAITRA 26, 1946
जित्त मत्रं ालय
(जित्तीय सिे ाए ं जिभाग)
आदेि
नई ददल्ली, 12 अप्रैल, 2024
का.आ. 1710(अ).—ऋण िसूली और िोधन अक्षमता अजधजनयम, 1993 (1993 का 51) की धारा 8 की
उप-धारा (3) द्वारा प्रदत्त िजियों का प्रयोग करते हुए, केन्द्रीय सरकार, एतदद्व् ारा, ऋण िसूली अपीलीय अजधकरण, चेन्नई
के अध्यक्ष को ऋण िसलू ी अपीलीय अजधकरण, चेन्नई का अध्यक्ष बने रहन े के अजतररि िआु ना संिीि उप्पल बनाम इंडस
मैकेजनकल इंिीजनयररग कंपनी प्राइिेट जलजमटेड (अपील स.ं 2023 का 135 और इससे संबंजधत काययिाजहयां)’, और
उर्ममला और कंपनी जलजमटेड, यूजनयन बैंक ऑफ़ इंजडया बनाम इंडस मैकेजनकल इंिीजनयररग कंपनी प्राइिेट जलजमटेड के
मामले म ें (अपील स.ं 2023 का 146 और इससे संबंजधत काययिाजहयां) की अपील के मामले म ें जनणयय देन े के जलए ऋण
िसूली अपीलीय अजधकरण, मुंबई के अध्यक्ष का काय य करन े हते ु प्राजधकृत करती ह।ै
[फा. स.ं 9/11/2022-डीआरटी]
एस. डी. िमा,य अिर सजचि
2551 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Financial Services)
ORDER
New Delhi, the 12th April, 2024
S.O. 1710(E).—In exercise of the powers conferred by sub-section (3) of section 8 of the Recovery
of Debts and Bankruptcy Act, 1993 (51 of 1993), the Central Government hereby authorises the
Chairperson of the Debts Recovery Appellate Tribunal, Chennai to discharge also the functions of the
Chairperson of the Debts Recovery Appellate Tribunal, Mumbai for deciding the appeal in the matter of
‘Juana Sanjeev Uppal vs Indus Mechanical Engg. Co. Pvt. Ltd. (Misc. Appeal No. 135 of 2023 and its
connected proceedings)’, and Urmila & Co. Ltd. in the matter between Union Bank of India vs Indus
Mechanical Engg. Co. Pvt. Ltd. & Anr. (Misc. Appeal No. 146 of 2023 and its connected proceedings) in
addition to his being the Chairperson of the Debts Recovery Appellate Tribunal, Chennai.
[F. No. 9/11/2022-DRT]
S. D. SHARMA, Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.