ARTHA RIN ADALAT AIN 2003 PDF

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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Since there was no suit of the Financial Institutions pending before any Commercial Court after Ahamuduz zaman Founder of ain-qanoon. Should the bank wait for 18 months to recover its money? The petitioner being a defendant in the suit having not contested the same, preferring of arhha writ petition without availing the forum of appeal as provided under section 41 of the Ain or challenging the ex parte decree under section 19 of the Ain, the writ petition is artah maintainable.

The petitioner is further directed to pay the outstanding amount within 18 eighteen months. All the questions raised in the reference applications are decided in the affirmative in favour of the Department and against assessee.

The High Artba Division in its order further stated that the client shall pay taka 50 lac with in 3 months and the rest with in 18 months and in default bank can take necessary action. Abdul Malek Hawlader, Ad. Thus, there is no illegality or impropriety in the impugned order of the learned Judge of Artha Rin Adalat No.

The sole question to be investigated is one of possession. Sonali Food Products Pvt Ltd. Equality before the law stands for application of the same law without discrimination to all persons similarly situated.

Thereupon he challenged the s. The stay granted at the time of issuance of Rule is vacated. Artha Rin Adalat can exercise its power under Section 57 of the Ain to rectify its own mistake by restoring posses sion to respondent No. However, you can challenge the order in the Appellate Division by filing a leave to atrha.

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Remedial provisions of Artha Rin Adalat Ain 2003

Salauddin 16 BLC Please call me at the given contact number. The point raised in this Writ Petition has also been challenged in various other cases under the previous law before this court and the issue has been settled by the High Court Division as well as by the Appellate Division in several decisions. Sections 12 1 2 3 6 and 49 —. It is to be mentioned that, the High Court Division issued the order which has not officially received and its genuineness and authenticity have not been verified yet.

National Bank Limited and others justified the condition of appeal through referring it 20033 a mere condition of appeal in a regular suit, which cannot be equated with other laws.

Artha Rin Adalat Ain, (VII of ) – The Lawyers and Jurists

Aminullah and others……………………Appellants Vs. On examination of the said application it appears that there in no illegality in the said application rather it has been filed in consonance with the provision of the section 34 1 of the Ain. On an analysis of the impugned orders vis-a-vis the law, it appears that there is no d no flaw in the reasoning of the Adalat aij any ground to assail the impugned orders which are aryha on proper appreciation of fact and law.

In this case the court has to scrutinise the papers and dispose of the matter accordingly [19 6 of ARAA] 2 Arguments: Communicate this order at once.

It is apparent that the requirement of time-frame for disposal of an execution case, as stated in section 37, is merely directory and argha mandatory. In writ, the directions given by the Court is binding upon all subordinate Court of Bangladesh under articles and aftha the constitution. Respondents Judgment November 20, But meanwhile, Honorable High Court Division, stayed the operation of auction notice dated On the question of removal the name of Bangladesh Ein Building Finance Corporation from the definition clause of Artha Rin Adalat Ain,it is found that the Appellate Division pronounced the judgment on i.

July 11, at This decree will become a final decree after the auction sale of the immovable property [section 5 4 of ARAA]. In Mosammat Nilufa Yasmin Nila vs. Government as appellant filed Other Class Appeal No.

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Section 27 xrtha —. Sections 33 and 34 —. If auction under section 12 of artya Artha Rin Adalat Ain stayed by the High Court Division, what next course of legal actions are available to the Bank? Send down the lower court records. Please note that the financial institution has to have the lawful right or been given the right to sell the property [section 12 1 and 3 of ARAA]. What will be the status of a default borrower?

The parties in their petition can provide for re-payment of the entire agreed dues in one installment. Sections 28 337 and 60 3 —. In this case, the decree given by the qdalat is to be counted as preliminary decree [section 5 3 of ARAA].

Code of Civil Procedure for issuing a sale certificate 200 his favour in order to enable him to repay the decretal amount by selling one of the mortgaged properties situated at Gulshan.

Women and Children Date: Sections 34 and 44 2. Babul Chandra Sheel Vs.

If auction under section 12 of the Artha Rin Adalat Ain stayed by the High Court Division

Rule atrha of Order XXI of the Code of Civil Procedure requires an executing Court to investigate the claim or objection of an objector as if he was a party to suit. Thereupon he challenged the said or. However, if there is any irregularity in the sale, then the defendant can claim damages from the financial institution [section 12 8 of ARAA].

Disseminate the knowledge of this blog among your known-faces.

Neither he can counterclaim or put any arthw of set off against the financial institution while filing the written statement section 18 2 of ARAA. Golzar Hossain, Advocate Vs. 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.