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.

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The Court can stay the auction process but why all sorts of necessary action was stayed not clear to us as it was not the merit of the judgement or sought by the client. Non-recording of any direction regarding payment of interest from the date of filing of the suit till realization of the decretal amount in the judgment and decree by the Adalat does not go the affect the right of the decree holder for charging the payment of interest as provided under section 50 of the Ain.

Appellate Division Civil Present: Even in the whole process of Execu.

Remedial provisions of Artha Rin Adalat Ain

There cannot be any escape from fulfillment of legal necessity as envisaged in section 19 or likewise section 41 of the Ain. If the plaint has already been filed without the property being sold, then the plaintiff has to sell the property and adjust the loan and inform the court in written form [12 2 of ARAA].

Moazzam Husain J dissenting. Nominee, attorney, agent, representative, savings and bank accounts, partition, succession, warisan and inheritance.

Under the Artha Rkn Adalat Ain,Section 18 2 also stands as a clear bar to entertain any suit or counter claim against the claim of the financial institution. Khalilur Rahman with Md. Thereupon he challenged the said order. In this regard, this mentionable that, according to section 46 of Artha Rin Adalat Ain. Neither he can counterclaim or put any claim of set off against the financial institution while filing the written statement section 18 2 of ARAA.

The only purpose is for speedy disposal of the suit, otherwise the defaulting borrowers of the financial institutions with their best efforts will arthx delay in the process of trial.

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Artha Rin Adalat and others Sections 47 and 50 2 —. Section 2 Ka 4 —.

Adalta In both cases Judgment October 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.

Ashfaqul Islam J Md. Section 6 1 —. Thereafter, Artha Rin Adalat Ain having come into force on upon repealing the Ain ofthe said execution case was transferred to the Artha Rin Adalat constituted under the Ain pursuant to section 60 3 of the said Ain. The learned Judge of the Artha Rin Adalat assumed illegal jurisdiction over the said other suit and held the trial of the civil suit without having any jurisdiction.

Mahmud Hossain J Md. Section 26 of the Ain of has expressly debarred application of the provisions of other statutes including the Code of Civil Procedure pending execution proceedings so far it is inconsistent with the provisions of the Ain of Therefore, it is evident that authority was given to Ron Harunur Rashid by the Bank on and the application was filed by Md Harunur Rashid on before the Adalat for issuance of warrant of arrest against the judgment-debtors by virtue of the said authorization letter.

Remedial provisions of Artha Rin Adalat Ain 2003

I am now working as the Head of Credit in a commercial Bank. Laws regarding Vested Properties in Bangladesh: From saving clause of section 60 3 of the Artha Rin Adalat Ain, it appears that the proceeding which were filed under the Artha Rin Ain but proceeded when the Artha Rin Adalat Ain, came into force, shall proceed as per provision of the Artha Rin Adalat Ain, as far as it practical.

Respondents In both cases Judgment Oct. Sections 20 and 41 —. Syed Shaheed Hossain, Advocate, instructed by Md. Please note that, the court will not sell the property, it will just adjust the loan with the value of the property.

These remedial provisions, they point out, deal with the defaulter borrowers disproportionately and irrationally. According to section 28 3 4 of the Ain, the second execution case is to be filed within one year from the date of disposal of the previous execution case, and or within 6 years from argha date of filing of the first execution case.

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Artha Rin Adalat Ain, – The Lawyers and Jurists

Section 34 is not dependent upon section Home About For Students. Section 41 2 —. Xdalat the facts and circumstances of the case and in the interest of justice, the Fourth Artha Rin Adalat which now holds the property must dispose of both execution cases under section 27 of the Ain.

Mamnoon Rahman J Md. The artua in their petition can provide for re-payment of the entire agreed dues in one installment. The defendants’ suit of compensation and damages as set up in other Suit No. The learned Judge can still consider such a prayer within the ambit of section Respondents In both cases Judgment October 18, Section 33 5 9 —.

June 15, at 4: In Order to save the valuable public time since the petitioner could not adlat the first hurdle, it is not necessary to consider the other grounds of the writ petition.

And next, if possession is found of the respondents whether they possessed independently or through judgment debtor.

You are commenting using your WordPress. Under section 26 of the Ain the provision of the Code is applicable so far as it is not inconsistent with the provisions of the Ain which includes the provisions of section 34 of the Ain. Should the bank wait for 18 months to recover its money?

If auction under section rij of the Artha Rin Adalat Ain rih by the High Court Division, what next course of legal actions are available to the Bank? In the instant case, admittedly no property was mortgaged by the principal debtor-loanee but the property was mortgaged by the petitioner. Case under the said rule for setting aside the auction sale and the same has occasioned failure of justice.

Civil imprisonment will not exempt payment of the decretal amount.