Under Section 15(1), after submitting resignation, how long must the Presiding Officer/Chairperson continue in office unless permitted to relinquish earlier?

Q: Answer-Under Section 15(1), after submitting resignation, how long must the Presiding Officer/Chairperson c...

Section 151 provides that the Presiding Officer or DRAT Chairperson may resign by notice in writing to the Central Government. Unless permitted to relinquish sooner, the officer must continue until whichever is earliest among i expiry of three months from the date of receipt of the notice OR ii a duly appointed successor enters upon office OR iii expiry of the term of office. The 3-month mandatory continuation ensures continuity of tribunal functioning, as sudden vacancies could suspend hundreds of pending debt recovery cases. This safeguard reflects the critical role DRTs play in protecting the financial health of banks and financial institutions.

A One month from the date of the resignation letter Correct Incorrect

B Two months from the date of receipt of the notice Correct Incorrect

C Six months from the date of the resignation letter Correct Incorrect

D Three months from date of receipt of notice, or until successor joins, or expiry of term - whichever is earliest Correct Incorrect

E As specified by the Central Government on a case-by-case basis Correct Incorrect

Detailed Solution

Section 15(1) provides that the Presiding Officer or DRAT Chairperson may resign by notice in writing to the Central Government. Unless permitted to relinquish sooner, the officer must continue until whichever is earliest among: (i) expiry of three months from the date of receipt of the notice; OR (ii) a duly appointed successor enters upon office; OR (iii) expiry of the term of office. The 3-month mandatory continuation ensures continuity of tribunal functioning, as sudden vacancies could suspend hundreds of pending debt recovery cases. This safeguard reflects the critical role DRTs play in protecting the financial health of banks and financial institutions.

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Under Section 15(1), after submitting resignation, how long must the Presiding Officer/Chairperson continue in office unless permitted to relinquish earlier?

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