The RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993

RECOVERY OF DEBT DETERMINED BY TRIBUNAL

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.