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Question

What are the various modes for the recovery of the amount of debt as specified in the certificate u/s 19 of the Recovery of Debts and Bankruptcy Act?

A Arrest of the defendant and his detention in prison Correct Answer Incorrect Answer
B Taking possession of property over which security interest is created Correct Answer Incorrect Answer
C Attachment and sale of the movable and immovable property of the defendant Correct Answer Incorrect Answer
D All a b & c Correct Answer Incorrect Answer
E Both a & b Correct Answer Incorrect Answer

Solution

Section 25.   Modes of recovery of debts: 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; (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; (d) any other mode of recovery as may be prescribed by the Central Government.

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