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Question

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 ________________

A Unless such person has deposited with the Tribunal twenty per cent of the amount of debt due as determined by the Tribunal Correct Answer Incorrect Answer
B Unless such person has deposited with the Tribunal thirty-five per cent of the amount of debt due as determined by the Tribunal Correct Answer Incorrect Answer
C Unless such person has deposited with the Tribunal fifty per cent of the amount of debt due as determined by the Tribunal Correct Answer Incorrect Answer
D Unless such person has deposited with the Tribunal such amount as the Tribunal may determine Correct Answer Incorrect Answer
E Unless the approval of the Recovery Officer has been obtained in writing Correct Answer Incorrect Answer

Solution

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