Baleshwar Dayal Jaiswal v. Bank of India and Ors., AIR 2015 SC 2881 | Corporate Debt Recovery Attorney in Delhi NCR
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In this case, there were two petitions which had been clubbed together, and a specific question of law was answered by the Hon’ble Supreme Court of India. The petitioners, who were the borrowers in this case had raised a contention before the Hon’ble Court that a certain provision in the Recovery of Debts due to Banks and Financial Institutions (RDBFI) Act of 1993, had to be included with Section 18(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act of 2002. This provision of the RDBFI Act gave powers to the appellate tribunal to allow an appeal after the period of limitation had expired, if there was a sufficient cause of failure which had been stated by the parties. Further, Section 18 of the SARFAESI Act mentions the rules and guidelines to be followed while making an appeal to the appellate tribunal.
