Section 25
Modes of recovery of debts.
The Recovery Of Debts And Bankruptcy Act, 1993
About this Act
An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto.
The Recovery Officer shall, on receipt of the copy of the
certificate under sub-section (7) of section 19, proceed to recover the amount of debt specified in the
certificate by one or more of the following modes, namely:--
(a) attachment and sale of the movable or immovable property of the defendant;
1[(aa) taking possession of property over which security interest is created or any other property of the defendant and appointing receiver for such property and to sell the same;]
(b) arrest of the defendant and his detention in prison;
(c) appointing a receiver for the management of the movable or immovable properties of the defendant;
1[(d) any other mode of recovery as may be prescribed by the Central Government.]
(a) attachment and sale of the movable or immovable property of the defendant;
1[(aa) taking possession of property over which security interest is created or any other property of the defendant and appointing receiver for such property and to sell the same;]
(b) arrest of the defendant and his detention in prison;
(c) appointing a receiver for the management of the movable or immovable properties of the defendant;
1[(d) any other mode of recovery as may be prescribed by the Central Government.]
Notes
` Ins. by s. 38, ibid. (w.e.f. 1-9-2016)