Section 30A: Deposit of amount of debt due for filing appeal against orders of the Recovery Officer

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The Recovery of Debts due to Banks and Financial Institutions Act, 1993

Chapter V

Recovery of Debt determined by Tribunal

Section 30A: Deposit of amount of debt due for filing appeal against orders of the Recovery Officer.

1[30A. Where an appeal is preferred against any order of the Recovery Officer, under section 30, by any person from whom the amount of debt is due to a bank or financial institution or consortium of banks or financial institutions, such appeal shall not be entertained by the Tribunal unless such person has deposited with the Tribunal fifty per cent. of the amount of debt due as determined by the Tribunal.]


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Amendments:

1. Ins. by Act 44 of 2016, s. 40 (w.e.f. 1-9-2016).

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