A bare perusal of Sections 17, 18, 19(19), 31 and 34 of Recovery of Debts & Bankruptcy Act, 1993 shows that the DRT is having exclusive jurisdiction to deal with the recovery of the secured creditors and is having an overriding effect over all other laws – The Specified Undertaking of The Unit Trust of India Vs. M/s Derby Textiles Ltd. – Rajasthan High Court
Hon’ble High Court referred various judgments of Apex Court and held that the Recovery Officer is not required to take any prior permission of the Company Court before disbursing the amount except the rider provided under Section 19 (19) of the Act of 1993 and Sections 529 and 529A of the Companies Act, 1956.