Matters regarding recovery of loans by financial institutions are covered by this statute. This is apparent from the preamble of this statute given at the very beginning of this Act prior to section 1 and also from the section 5. Please note that, these matters are regarded as matters of civil nature (section 11(5) of ARAA). Irrespective of Public Demand Recovery Act (PDRA) 1913, if the loan is recoverable under ARAA then it has to be recovered using the Artha Rin Adalat no matter whether this loan is considered as 'Public/Government Loan' [section 5(5) of ARAA]. However, cases involving claims by Bangladesh Krishi Bank and Bangladesh Krishi Unnoyon Bank and other state-owned financial institutions not exceeding the amount of taka 5 lacs can be filed as certificate case using the PDRA 1913 instead of filing in Artha Rin Adalat [section 5(5) of ARAA]. If there are special provisions for recovering loan by financial institutions established by special law, then the ARAA provisions will be counted as additional to those provisions. However, if that financial provision files a case in Artha Rin Adalat for recovering loans, then the ARAA will be applicable [section 5(6) of ARAA].

Loans recoverable by this statute: Loans given to the Government by the following institutions [section 2Ka (12-17)] are not recoverable by the Artha Rin Adalat: International Finance Corporation Commonwealth Development Corporation Islamic Development Bank Asian Development Bank International Bank for Reconstruction and Development International Development Association However, appropriation of money by the officers or employees of a financial institution cannot be entertained with this act (section 18(1) of ARAA). Mortgage suit for sale or foreclosure of immovable property in pursuant to section 67 of The Transfer of Property Act 1882 and Order XXXIV of CPC has to be filed in the Artha Rin Adalat and the procedures laid down in CPC and ARAA have to followed in combination, so far as it is possible under section 5(2) of ARAA. The loan-receiver cannot file a case against the financial institutions under this statute. Neither he can counterclaim or put any claim of set off against the financial institution while filing the written statement (section 18(2) of ARAA). On any case pending in any other court by the loan receiver being plaintiff cannot be heard analogously with the case filed by the financial institution against that loan receiver in Artha Rin Adalat and vice versa. Neither it is possible to stay the case under Artha Rin Adalat on that ground (section 18(3) of ARAA).

Extract maximum benefits from newly enacted Artha Rin Adalat Ain for recovery of loans. Vii) Adhere to. N order to strengthen credit discipline and to improve the recovery position of loans, Bangladesh. Download Yarana Mp3 Songs Free more. Bank from time to. Settle defaulting loan within the shortest possible time with a view to ensuring maximum return for.

Relevant court: All the matters under this statute, as long as it is regarding recovery of loans by financial institutions, has to be entertained by Artha Rin Adalat of the relevant district. The judge of the Artha Rin Adalat is a Joint District Judge (Section 4 & 5) Procedures to be followed for filing and running cases under this statute: It must be borne in mind that as the matters covered by this statute are of civil nature, therefore, the Code of Civil Procedure (CPC) is the prime code that has to be followed regarding procedural issues. If this is so, then the relevant steps for a civil case/suit under CPC are to be complied with for cases under Artha Rin Adalat Ain 2003. The normal steps for a civil suit that are to be followed for cases under Artha Rin Adalat Ain 2003 are: Proceeding Stage: I) Issue of Plaint/ Institution of Suit: 2) Issue of Summons/Process: 3) Service of Summons: 4) Return of summons and filing of written statements: 5) First Hearing and Court's Examination of the Parties: 6) Section 30 steps: 7) Framing Issues: 8) Settling a date for hearing: These days, the abovementioned stages 5, 6 & 8 are not the norms. Normally on the day of framing issues the court fix a date for final or peremptory hearing and then the trial stage begins without the need for fixing a separate date for settling a date for hearing. Livro Purga Em Angola Pdf Converter. Trial Stage: 1) Peremptory Hearing: a) Opening of the case b) Examination in Chief c) Cross-examination d) Re-Examination 2) Arguments Post-Trial Stage: 1) Judgement 2) Decree (to be continued) Barrister Muhammad Tanvir Hashem Munim is the Head of his own Chamber known as 'Munim and Associates.