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CS Professional · Corporate Restructuring, Valuation and Insolvency · Debt Recovery and SARFAESI

Sharma Textiles Pvt Ltd lost its application under section 17 of the SARFAESI Act before the Debts Recovery Tribunal. It wants to appeal to the Appellate Tribunal. Within what period from the date of receipt of the DRT's order must the appeal be preferred under section 18?

The appeal must be filed within thirty days from the date of receipt of the Debts Recovery Tribunal's order under section 17. The SARFAESI Act, section 18(1), fixes this period, so forty-five, sixty or ninety days are incorrect.

  1. AThirty daysCorrect
  2. BForty-five days
  3. CSixty days
  4. DNinety days

Explanation

Section 18(1) of the SARFAESI Act allows an aggrieved person to appeal to the Appellate Tribunal within thirty days from the date of receipt of the DRT's order. The longer periods are not what the section prescribes.

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