The provisions of alternative dispute resolution (ADR) is a unique feature of the Artha Rin Adalat Ain, After filing the written statement, the. Law Analysis. Analysis of Artha Rin Adalat Ain (ARAA) Matters covered by this statute, its scope and jurisdiction of Artha Rin Adalat. View Test Prep – Business Low from ORGANIZATI 01 at University of Liberal Arts Bangladesh. Summary of Artha Rin Adalat Ain ” In our legal system.
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Loans recoverable by this statute: However, if viewed from the perspective of a consumer taking loan which is essentially a funding by the institution and liability for the consumer, yes, a financial institution can sue.
In view of the overwhelming evidence regarding the arrival of the goods and after releasing the same kept in the Bank’s godown for 9 years had to sell the same in public auction and Bank informed his client regularly in each stage, it can not be accepted the contention that the defendants were arth aware of all these things. The additions or differences or explanation regarding procedures are: Artha rin adalat ain bangla 01 download as pdf file.
Any other atrha person other than a person employed qdalat the profitable service in the Republic. Cash Credit arrangements are usually made against the security of commodities hypothecated or pledged with the bank.
Artha Rin Adalat Ain, 2003 by Md. Anwar Hossain and A. B. Siddique
How Could I get loan? Micro credits not exceeding taka and repayable with in 12 months are also treated as short term loan. Sir, I am a middle aged person. SECTION 12 No financial institution is entitled to file an Artha Rin Mamla before the Adalat without adjusting the liability by selling the property movable or immovable under lien, pledge, hypothecation or registered mortgage of which the financial institution is lawfully authorized to sell by artya of irrevocable notarized power of attorney in case of movable property and registered power of attorney in case of immovable property.
This court shall have exclusive jurisdiction to try the suits filed by the financial institutions for realization of debt. Please note that, these matters are regarded as matters of civil nature section 11 5 of ARAA. From the sub-sections 9 and 10 of section 34 of the Ain, there is nothing to show that there is any scope of issuing any show cause notice before issuing warrant of arrest rather it appears that warrant of arrest may be issued directly.
But the law enjoins a strict compliance of the provision in its true purport and spirit. Sections 20 and 19 —. Part 1 Issue I: Especially the Financial Institutions were suffered a lot for want of effective and speedy machinery to realize their unpaid claim. The lawyers shall mutually appoint a mediator upon consultation of the parties to the suit among the following kinds of person:.
Sections 6 5 and 32 1 2 —.
June 15, at 6: The petitioners did not appear before the Court. UN model confce starts at DU. Sections 6 5 and 57 —. Section 34 1 —. Since the intention of law is not to put a person unconnected with loan transaction into the rigorous procedure of a special statute for protection of aryha property.
THE ARTHA RIN AIN, 2003
To find out more, including how to control cookies, see here: As there was no allegation of fraud or irregularities in the auction sale process, both the Courts below without existence of the legal requirements as laid down in Order XXI, rule 90 of the Code Civil Procedure acted aadlat in allowing the Misc.
The learned Judge of the Artha Rin Adalat assumed illegal jurisdiction over the said other suit and held the wdalat of the civil suit without having any jurisdiction.
As the judgment or degree of the Artha Rin Adalat is final and the same cannot be questioned in any court under any separate proceeding the plaintiff’s suit is impliedly barred by specific provision of Artha Rin Adalat Ain. July 11, at Provisions of section 34 of the Artha Rin Adalat Ain, that the law provides for simple civil imprisonment of the judgment-debtor to compel to make the payment for satisfaction of the decree and is not an alternative punishment in lieu of payment of the decretal amount.
Apparently nature of claims were baseless and there is hardly any foundation in the atrha as well. Sections 20 and 41 —.
The claim of Taka 5,09, Upon deposit of Tk. Under section 26 of the Ain the provision of the Code is applicable so far as it is not inconsistent with the provisions of the Ain which includes the provisions of section 34 of the Ain.
Artha Rin Adalat Ain, – The Lawyers and Jurists
Moreso, the said provision stands for money decree passed in a Money Suit but not in a suit for recovery of bank loan which may also be called a money decree for which special law exists for the said purpose e. Can you please suggest me on how could I protect my rights as a borrower? Instant suit was filed in and it has crossed Artha Rin Adalat Ain, and now continuing under the provisions of Artha Rin Adalat Ain, and by the law it is the intention of the legislature to dispose of the suit on merit and also with an intention to dispose of the suit expeditiously or on priority basis and, as such, the provisions as laid down in section 17 of the Ain is merely directory one.
It refers to small credit specially credit for the poor, agriculture, rural development, women empowerment and other types of credit for poverty alleviation. Therefore, it is evident that authority was given to Md Harunur Rashid by the Bank on and the application was filed by Md Harunur Rashid on before the Adalat for issuance of warrant of arrest against the judgment-debtors by virtue of the said authorization letter.