17.
Right to appeal.- (1) Any person (including
borrower), aggrieved by any of the measures
referred to in sub-section (4) of section 13
taken by the secured creditor or his authorised
officer under this Chapter, may prefer an appeal
to the Debts Recovery Tribunal having jurisdiction
in the matter within forty-five days from the
date on which such measure had been taken.
(2) Where an appeal is preferred
by a borrower, such appeal shall not be entertained
by the Debts Recovery Tribunal unless the borrower
has deposited with the Debts Recovery Tribunal
seventy-five per cent. of the amount claimed
in the notice referred to in sub-section (2)
of section 13:
Provided that the Debts Recovery
Tribunal may, for reasons to be recorded in
writing, waive or reduce the amount to be deposited
under this section.
(3) Save as otherwise provided
in this Act, the Debts Recovery Tribunal shall,
as far as may be, dispose of the appeal in accordance
with the provisions of the Recovery of Debts
Due to Banks and Financial Institutions Act,
1993 (51 of 1993) and rules made thereunder.
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