2003

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Artha Rin Adalat Ain, 2003

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The Artha Rin Adalat Ain, 2003 (Money Loan Court Act, 2003) is a special legislation providing for the expeditious recovery of bank and financial institution loans in Bangladesh. It applies to all suits filed by scheduled banks, financial institutions, and government lending agencies against defaulting borrowers for recovery of arrears. The Act establishes Money Loan Courts as special tribunals with exclusive jurisdiction over such suits, and prescribes a summary procedure that requires defendants to file written statements within 30 days (Section 12). If no written statement is filed or if the defence fails to disclose a triable issue, judgment may be entered immediately. Key mechanisms include the power of the Court to appoint a receiver to take possession of charged property and the suspension of directors of defaulting companies. A notable feature is Section 33, which bars civil courts from entertaining any suit relating to matters within the jurisdiction of the Money Loan Court. The Act encourages alternative dispute resolution through arbitration (Section 22) and permits decree-holders to apply for execution by sale of mortgaged property without the procedural delays of the ordinary civil procedure. The Act remains the principal legal mechanism for debt recovery by financial institutions in Bangladesh and has been amended several times, most notably by the 2015 amendment. The Act is currently in force.

Full text · showing key sections

§ 1Short title, application and introduction

1 (1) This Act
Money Debt Courts Act, 2003
shall be called

(2)It shall apply in the whole of Bangladesh

(3)The provisions of sections 46 and 47 of this Act shall come into force at the time mentioned in the said sections and the remaining provisions shall come into force from the 1st day of May, 2003.

§ 2Definition

2 Subject to anything contrary to the subject or context, in this Act,—
(a) “financial institution” means—

(1)Bangladesh Bank Order, 1972
Bangladesh Bank established under (P.O. No. 127 of 1972);

(2)Bangladesh Banks (Nationalisation) Order, 1972
Banks constituted under (P.O. No. 26 of 1972);

(3)bank companies established or managed under the Bank Companies Act, 1991 (Act No. 14 of 1991);

(4)the House Building Finance Corporation established under the Bangladesh House Building Finance Corporation Order, 1973 (P.O. No. 7 of 1973);

(5)Investment Corporation of Bangladesh Ordinance, 1976
Investment Corporation of Bangladesh established under (Ordinance No. XL of 1976);

(6)The
Bangladesh Shilpa Rin Sangstha Order, 1972
(
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[P.O. No. 128] of 1972) established under the Bangladesh Industrial Credit Corporation;

(7)The Bangladesh Shilpa Bank Order,
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Bangladesh Shilpa Bank established under [1972] (P.O. No. 129 of 1972);

(8)The
Bangladesh Krishi Bank Order, 1973
Bangladesh Agricultural Bank established under (P.O. No. 27 of 1973);

(9)The
Rajshahi Krishi Unnayan Bank Ordinance, 1986
Rajshahi Agricultural Development Bank established under (Ordinance No. LVIII of 1986);

(10)Bangladesh Small and Cottage Industries Corporation established under The Bangladesh Small and Cottage Industries Corporation Act (E.P. Act XVII of 1959);

(11)Financial Institutions Act, 1993
Financial institutions established under (Act No. 27 of 1993);

(12)International Finance Corporation (IFC);

(13)Commonwealth Development Corporation (CDC);

(14)Islamic Development Bank (IDB);

(15)Asian Development Bank (ADB);

(16)International Bank for Reconstruction and Development (IBRD);

(17)International Development Association (IDA);
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[(18) Any bank established under any Act.]
(b) "Court" or "Money Debt Court" means any Court established or declared under section 4 for the purposes of this Act or any Joint District Judge's Court deemed to be a Money Debt Court.
(c) “debt” means—

(1)advance, loan, cash loan, overdraft, banking credit, bill of exchange or purchase, money invested by a financial institution operated in accordance with Islamic Shariah or any other financial favor or facility, by whatever name called;

(2)guarantee, indemnity, bond or any other financial arrangement which a financial institution gives or issues on behalf of the borrower or accepts as liability;

(3)any loan made by any financial institution to any of its officers or employees; And

(4)interest, penal interest or profit or rent lawfully levied on the loan referred to in (1) to (3) above, or, as the case may be, money invested by a financial institution operated in accordance with Islamic Sharia;
(d) “Government” means the Government of the People's Republic of Bangladesh

§ 3Rule of law

3 Notwithstanding anything to the contrary contained in any other law for the time being in force, the provisions of this Act shall have effect

§ 4Establishment of courts

4 (1) The Government may, subject to the provisions of sub-sections (2) and (3), by notification in the Official Gazette, establish one or more Money Debt Courts in every district for the purpose of adjudication of cases by financial institutions and other related purposes of this Act.

(2)The Government may, if it thinks fit, establish a Money Debt Court for two or more districts

(3)If no money-debt court has been established or declared under sub-section (1) or (2), the suit relating to the recovery of the debt of the financial institution shall be filed in the joint-district judge's court of the local jurisdiction concerned; And the provisions of this Act shall be followed in all proceedings, hearings, proceedings, appeals etc. of those cases in such a manner as if the said Joint District Judge's Court is a court established or declared under this Act and for the purposes of this Act the said Joint District Judge's Court shall be considered as a money debt court under this Act.

(4)For the purposes of this section the Government may, by notification in the Official Gazette, appoint any court of the Joint District Judge for the time being functioning, as the case may be,
Civil Courts Act, 1887
According to the provisions thereof, it may declare itself as a money debt court, by transfer or reassignment of its local jurisdiction, and after such declaration the proceedings of the said court as a joint-district judge's court shall be terminated or suspended, and the district judge shall order the transfer of all other cases pending in the said joint-district judge's court to any other joint-district judge's court under his jurisdiction.

(5)The Government shall, in consultation with the Supreme Court, appoint judges to the Money Debt Courts from among the Joint District Judges, and a Joint District Judge so appointed shall not try any civil or criminal case except in cases relating to money debts.

(6)The Government may appoint a Judge of a Money Debt Court, in addition to his duties, as a Judge of more than one Money Debt Court if it deems it necessary.

(7)If a Judge appointed to a Money Debt Court established, declared or deemed under this section is temporarily unable to perform his duties due to leave, illness or any other reason, the District Judge may temporarily appoint a Joint District Judge appointed under his local jurisdiction and administrative control to be in charge of the said Money Debt Court for an additional or full-time period of his duties.

(8)The Government may, by notification in the Official Gazette, at any time, abolish any money debt court.

(9)If the Government abolishes any Money Debt Court in accordance with sub-section (8), by the same order it shall also make specific provision in respect of cases pending in that Court.

(10)If the money-debt court dissolved under sub-section (8) is a court declared under sub-section (4), the proceedings terminated or suspended by the joint-district judge's court on account of such declaration shall be revived and the district judge shall arrange for the transfer of the case to that court.

(11)The Money Debt Court shall be situated at the district head-quarters, and where a Money Debt Court has been established for two or more districts, the Government shall, by notification in the Official Gazette, determine the district head-quarters of such court.

(12)The Judge of a Money Debt Court established or declared to consist of a Joint District Judge under this section shall be addressed as "Judge, Money Debt Court".

§ 5Courts have exclusive jurisdiction

5 (1) Notwithstanding anything contained in any other law, subject to the provisions of sub-sections (5) and (6), all suits relating to the recovery of debts of financial institutions instituted, declared or deemed under section 4 shall be filed and disposed of in the said Court.

(2)Financial institutions under this Act, for the purpose of sale or foreclosure of the mortgaged immovable property against the loan granted by taking the immovable property as security.
Transfer of Property Act, 1882
(Act No. IV of 1882) under section 67 and The
Code of Civil Procedure, 1908
(Act No. V of 1908) If any mortgage suit is to be filed in accordance with the provisions of Order XXXIV, the said suit shall also be filed in the Money Debt Court established under this Act; And in such case The
Code of Civil Procedure, 1908
Its provisions shall apply in coordination, as far as possible, with the provisions of this Act

(3)If the case filed by the financial institution under sub-section (2) is a mortgage suit for the purpose of foreclosure, only in that case the decree given by the court shall be a preliminary decree and in all other cases the decree given by the court in the case filed for recovery of debt shall be the final decree.

(4)The
Transfer of Property Act, 1882
or notwithstanding anything to the contrary contained in any other law for the time being in force, except in a mortgage suit under sub-section (3), in any suit instituted under this Act, the decree passed by the Court shall be deemed to be a preliminary decree of foreclosure in favor of the plaintiff financial institution; And as soon as the mortgaged immovable property is sold by auction in favor of the plaintiff against the debt, the said initial decree shall be considered as final decree, and the sale shall be considered final and the purchase shall be considered valid and thereafter the defendant-liable shall have no right to redeem the said property.

(5)The
Public Demands Recovery Act, 1913
(Act No. III of 1913), notwithstanding anything contained in the provisions of this Act, if a debt recoverable under this Act is a “public debt”, a suit for recovery shall be filed in a court under this Act:
Provided, however, that Bangladesh Agricultural Bank, Rajshahi Agricultural Development Bank and other state-owned financial institutions under
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[5,00,000 Rupees (Five Lakh Rupees)] Cases involving claims for money without filing in the Debt Court
Public Demands Recovery Act, 1913
As per the provisions thereof, the certificate may also be filed as suit

(6)If there is any special provision in the said special law for recovery of debt by the financial institution established by any special law, the provisions of this law shall be considered in addition to the provisions of the said law; And the provisions of this Act shall be applicable if a suit for recovery of debt is filed in the court under this Act by the similar financial institution.

(7)Notwithstanding the provisions of sub-section (1), nothing in this section shall have effect in respect of the recovery by any financial institution of a debt advanced to the Government by a financial institution under sub-sections (12), (13), (14), (15), (16) and (17) of clause (a) of section 2.

(8)Cases filed under this Act shall be registered under the name “Money Debt Cases”.

(9)If there is more than one money debt court in any district, the local jurisdiction for filing the case shall be determined by the District Judge.

(10)The District Judge may, voluntarily or on the application of any party to the case, if he thinks it absolutely necessary in the interests of justice, transfer any case pending in any Money Debt Court to any other Money Debt Court, if any, situated within his jurisdiction.

(11)The Money Debt Court shall be deemed to be a civil court and shall, subject not inconsistent with the provisions of this Act, have all the powers and jurisdiction of a civil court.

§ 6Judicial system

6 (1) In proceedings relating to the trial or settlement of any suit filed in the Money Debt Court under this Act, subject not inconsistent with the provisions of this Act, the
Code of Civil Procedure, 1908
Its relevant provisions shall be applicable

(2)Any case under this Act shall be filed by the financial institution by filing an RG, an affidavit in support of the RG's statement and relevant documentary evidence shall be attached with the RG, the court fee payable (ad valorem) shall be paid along with the RG and if the RG filed is appropriate, it shall be included in the order prescribed by the court.

(3)A case filed by a financial institution under this Act may be contested by the defendant by filing a written reply, accompanied by an affidavit in support of the statement of the written reply and relevant documentary evidence.
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[****] and the written reply filed shall be included in the record of the case.

(4)In the settlement of cases under this Act, the affidavit attached in accordance with the provisions of sub-sections (2) and (3) shall be considered as substantive evidence, and in the case of unilateral or immediate settlement of any case, without examining any witness, the court shall pass judgment or order only after analyzing such affidavit-related RG or written reply and related documentary evidence.

(5)When the financial institution files a case against the principal debtor, the third party mortgagor or the third party guarantor, if related to the loan, shall make them defendants; And the judgment, order or decree passed by the court shall be executed jointly and severally against all the defendants and the proceedings for the issuance of the decree shall be conducted simultaneously against all the defendants-liable:
Provided, however, that in case of recovery of claim by decree, the court shall first attach the property of the original debtor-defendant and then of the third party mortgagor and third party guarantor respectively as far as possible:
It is further provided that if the third party mortgagor or the third party guarantor pays the claim of the decree given in favor of the plaintiff, the said decree shall be transferred in their favor respectively and they may enforce or issue the same against the principal debtor.

§ 7Provisions relating to issuance of summons

(1)Notwithstanding anything contained in any other law for the time being in force, the plaintiff shall file with the court all summonses for the issuance of summons, together with the application, to be sent by the issuer of the court and by registered post with acknowledgment of receipt, and the court shall forthwith cause the same to be issued simultaneously, and if the summons is not returned issued within 15 (fifteen) days of issue, or sooner. returns without issue, then the court shall within 15 (fifteen) days thereafter issue the summons by publishing an advertisement in any widely circulated Bengali national daily newspaper, and further in a local newspaper, if any, and if the court deems it necessary in the interest of justice, and such issue shall be deemed to be legal issue.

(2)If, in addition to the provisions of sub-section (1), the plaintiff wishes to issue any summons and notice on the defendant at his own expense, the court shall execute this action in addition to the first action of issuing summons by the court sergeant in the preceding sub-section.

(3)As a preliminary measure to the issuance of summons by publishing an advertisement in a national daily newspaper, the plaintiff shall, at the time of filing the RG, file a sample advertisement with the RG in the court, and the court shall make necessary arrangements for the issuance of the said advertisement, subject to the necessary corrections or changes, if necessary in accordance with the provisions of the preceding sub-section.

§ 8RG

8 (1) The financial institution shall file the case by filing an RG and the said RG shall, inter alia, mention the following matters, namely:-
(a) particulars of the plaintiff's name, address, place of work, etc.;
(b) particulars of the defendant's name, address, place of work, residence, etc.;
(c) all events relating to the claim;
(d) the event, place and date of the cause of action arising;
(e) filing of suit for the purpose of payment of court fees;
(f) details of the jurisdiction of the court; And
(g) Remedy sought

(2)In addition to the matters mentioned in the preceding sub-section, the plaintiff shall, in the application, include—
(a) a schedule showing—
(b) the principal loan given to the defendant or, as the case may be, the amount of money invested;
(a) the amount charged as normal interest or, as the case may be, profit or rent;
(e) the amount charged as penal interest;
(ii) the amount of money imposed on the defendant in respect of other matters;
(f) the amount of money deposited by the defendant towards the payment of loans or dues to the plaintiff financial institution according to the last account made before the filing of the suit; And
(v) the comparative position of the total amount paid and collected by the plaintiff and the total amount paid by the defendant;
(b) a schedule showing the detailed identity, description, and financial valuation, if any, of all immovable and immovable properties mortgaged or secured by the defendant and the corresponding mortgage or security deed.

(3)If the plaintiff cites any document as evidence in support of his claim and the document is in his possession, he shall file the said document or a certified copy or photocopy thereof with the application.

(4)If the plaintiff relies on any document which is not in his possession as evidence in support of his claim, he shall file with the application a list of such document specifying the holder of said document.

(5)Notwithstanding the provisions of sub-sections (2) and (3), if any document is subsequently filed by the plaintiff, the court shall not accept it without giving cause and costs; And the expenses payable shall be credited to the designated sector as Government revenue

(6)In a clause in the RG, the plaintiff shall specify who shall act as agent.

(7)If the plaintiff is unable to furnish any schedule of the defendant's property in any case, the court shall, on the application of the plaintiff, direct the defendant to file an account of his movable and immovable property with a written affidavit, and on receipt of such direction, the defendant shall accordingly submit to the court with a written affidavit the list of movable and immovable property, if any.

(8)When filing a suit under this section, the financial institution shall file with the court as many copies of the RG and attached documents as there are total number of defendants.

§ 9Written response

9 (1) The defendant shall appear before the court on the date fixed in the summons issued by the court and shall submit a written reply, if any, to the plaintiff's claim.

(2)If the defendant relies on any document in support of his statement and that document is in his possession, the said document or its certified photocopy shall be included in a list and filed along with the written reply.

(3)If the defendant relies in evidence in support of his answer on any document not in his possession or control, a list of such document or documents, stating the names and addresses of those in possession, shall be filed with the written answer.

(4)Notwithstanding the provisions of sub-sections (2) and (3), any document subsequently filed by the defendant shall not be accepted by the Court, without due cause and costs; And the expenses payable shall be credited to the designated sector as Government revenue

(5)If the defendant admits the plaintiff's claim or any part thereof, the defendant shall clearly include the details of the said admission in a clause of the written reply.

(6)If the plaintiff's claim or any part of the claim is denied, the defendant shall clearly state the extent thereof and the reasons or arguments in support of the denial in a clause in the written reply.

(7)A clause in the written reply shall state who shall act as executor on behalf of the defendant or defendants.

(8)When the defendant files a written reply under this section, a copy of the written reply and the attached documents shall be filed with the court for the plaintiff.

§ 10Deadline for submission of written reply

10 (1) Subject to the provisions of sub-section (2), the Debt Court shall not entertain any written reply filed by the defendant after 40 (forty) days after the appearance of the defendant, and in such case the Court shall immediately dispose of the case ex parte.

(2)Notwithstanding the provisions of sub-section (1), the court may extend the aforesaid period for a further period of up to 20 (twenty) days, subject to the precondition of payment of costs not exceeding 2000 (two thousand) and not exceeding 5000 (five thousand) taka.

(3)The expenses payable under this section shall be deposited in the designated department as public revenue and the invoice thereof shall be filed in court as evidence.

§ 11Additional reply against written reply

11 In response to the written response filed by the defendant, if the plaintiff financial institution wants to provide any additional response or information to the request, it shall, subject to the permission of the court, file the same within 15 (fifteen) days after the written response is filed.

§ 12Sale of certain securities by financial institutions

12 (1) Subject to the provisions of sub-section (2), no financial institution, in its own possession or control, shall file any suit in the Money Debt Court without selling any property of the defendant in its own possession or control, which has been given as a lien or pledge, and the legal right of sale of which remains with the plaintiff or has been assigned to the plaintiff, and without arranging for the payment of the proceeds of the sale.

(2)Notwithstanding the provisions of sub-section (1), if any financial institution files a suit without selling the mortgaged or mortgaged property in its possession or control, it shall forthwith sell the said property as aforesaid and reconcile the proceeds with the loan and notify the court in writing of the matter.

(3)If a financial institution gives a loan from the defendant by keeping any immovable property mortgaged or hypothecated, and the power to sell the mortgaged or mortgaged property during the payment of the mortgage or hypothecation.
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[*****] provided to the financial institution, it shall not file any suit in the Debt Court unless it sells and arranges for the repayment of the proceeds of sale, or fails to attempt the sale.

(4)In relation to the sale referred to in sub-section (3), the financial institution shall, as far as possible, follow the provisions of sub-sections (1), (2) and (3) of section 33 of this Act.
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[(5) Any financial institution, if, in order to facilitate proceedings taken under this section for the sale of any immovable or immovable property mortgaged or liable under sub-section (3) in its favour, the possession and control of such immovable or immovable property must be surrendered from the defendant or borrower or, as the case may be, in favor of the purchaser, before or after the sale, the said financial institution shall request in writing Upon doing so the Defendant or Borrower shall immediately surrender such possession in favor of the Financial Institution or, as the case may be, the Purchaser.

(5A)If the defendant or the borrower has not surrendered the possession and control of the property referred to in the said sub-section in favor of the financial institution or, as the case may be, the purchaser, despite a request in writing under sub-section (5), the financial institution may apply to the District Magistrate of the local jurisdiction concerned to request the defendant or the borrower to surrender the possession and control of the said property in favor of the said sub-section or, as the case may be, in favor of the purchaser. can do; and if so directed, the District Magistrate or any Magistrate of the first class nominated by him shall, subject to the satisfaction of the said property being mortgaged or liable against the loan advanced in favor of the financial institution, recover possession and control thereof from the defendant or borrower and deliver it to the financial institution or, as the case may be, the purchaser on behalf of the financial institution.]

(6)If any financial institution fails to comply with the provisions of sub-sections (2) and (3), the court, on its own motion or on the written application of the debtor, shall, at the time of passing the decree, grant a decree deducting from the suit claim an amount equal to the value shown by the said financial institution, if any, and if there is no value shown, the court, after receiving the report of the sub-registrar of the local jurisdiction of the property, shall fix the value and determine the value of the said value. A decree will be issued excluding the equivalent amount from the suit claim

(7)Under sub-section (6) the value of the property for which a decree is to be set aside from the suit claim, the ownership of the said property shall be vested in favor of the financial institution in a manner similar to the provisions of sub-section (7) of section 33.

(8)Notwithstanding anything to the contrary contained in any other law for the time being in force, if any collateral immovable or immovable property is sold under this section by a financial institution under a lien, pledge, hypothecation or mortgage, such sale shall create a valid title in favor of the purchaser and the purchaser's purchase shall not be disputed in any way:
Provided, however, that if there is any illegality or procedural irregularity in the sale process by the financial institution, the guarantor may claim compensation against the financial institution.

§ 13Formation and settlement of the case

13 (1) On a fixed date after the filing of a written reply by the defendant, the Court shall, after hearing both the parties, if present, and after reviewing the pleadings and written statements, determine the merits of the case, if any; And if there is no justiciable matter, the court shall immediately pass the judgment or order

(2)On the date fixed in sub-section (1), if either or both parties are absent, the Court shall, after reviewing the pleadings and written statement, establish the merits of the case, if any; and, if there is no justiciable issue, the court shall immediately pass the judgment or order

(3)If, at any stage of the case, the statement of the plaintiff has been accepted by the defendant in the written description or in any other way, and if the plaintiff applies to the court for the judgment or order to which the plaintiff is entitled on the basis of such recognition, the court, without waiting for the settlement of the other legal issues existing between the plaintiff and the defendant, shall give an appropriate judgment or order.

(4)If on the first date fixed for the hearing of the case or at any stage of the case it appears to the court that there is no dispute of fact or of law between the parties, the court shall, by giving judgment or order, immediately dispose of the case finally.

§ 14The hearing of the case is adjourned

14 (1) Subject to the provisions of Section 17 relating to time limits for disposal of cases, the date fixed for the final hearing of any case in the Debt Court shall not be adjourned more than once on the application of any party.

(2)Notwithstanding the provisions of sub-section (1), the Court may, without prejudice to the time prescribed in this section for adjudication, grant more than one adjournment on the application of any party, subject to the condition precedent of payment by the other party of the costs of up to and including Rs.1,000/- (three thousand) before the due date.

(3)In accordance with the provisions of sub-section (2), the amount of the deferred expenses payable shall be deposited in the prescribed department as public revenue and the receipt shall be filed in court as evidence; And if this condition is violated, the court will immediately settle the case unilaterally

(4)The hearing of a case shall continue consecutively after it has commenced and the partial hearing of such case shall only be adjourned to the next working day of the Court.

§ 15Provisions relating to oral or written arguments

15 (1) It shall not be necessary for a Judge of a Debt Court to hear oral arguments before giving judgment in a case filed under this Act.

(2)Subject to the provisions of sub-section (3), if any party or parties so desire, may file written arguments within five (five) days by notifying the court in writing immediately after the conclusion of the evidence in the case and providing copies to the other party or parties, provided that there shall be no opportunity to provide a written reply against the written arguments.

(3)Notwithstanding the provisions of sub-section (2), the Court may, if it thinks fit, order any party or parties to submit oral arguments in addition to written arguments.

§ 16Provisions relating to adjudication

16 (1) The court shall render its judgment within 10 (ten) days after the conclusion of the evidence in the case, but, if the party or parties submit written arguments under sub-section (2) of section 15 or the court hears oral arguments under sub-section (3), the court shall render its judgment within 10 (ten) days from the date of submission of such written arguments or hearing of oral arguments.

(2)Unless the court, in its judgment or order, has fixed a longer period for paying the decreed money in installments, it shall fix any period of less than sixty (sixty) days and direct the defendant to pay the decreed money within that period.

§ 17Provisions relating to time limit for disposal of cases

17 (1) Cases filed under this Act shall be disposed of within 30 (thirty) days from the date of issuance of the summons, if the defendant does not appear despite the issuance of summons, and if the defendant appears and files a written response, subject to the provisions of sub-section (2), it shall be disposed of within 90 (ninety) days from the date of filing the written response.

(2)Notwithstanding the provisions of sub-section (1), if it is not possible to dispose of the case within the prescribed period of 90 (ninety) days, with due cause recorded: the court may extend the said period by another 30 (thirty) days.

§ 18Special provisions relating to filing and hearing of cases

18 (1) No money embezzled by any officer or employee of any financial institution shall be recoverable through a court under this Act as a debt.

(2)No borrower may file a suit against any financial institution in the court under this Act, claiming any remedy, for any matter arising out of the related loan, and the borrower-defendant shall not include a set-off or counter claim in the said written reply in the suit filed by the plaintiff-financial institution.

(3)If the borrower-defendant has filed a case in any other court as a plaintiff in matters arising from the related debt, the said case shall not be heard together with the case filed in the court established under this Act, or the case pending in the court established under this Act shall not be heard together with the case pending in the above-mentioned other court in the said other court; and for no similar reason shall the proceedings instituted under this Act be stayed

§ 19Provisions relating to unilateral decrees

19 (1) If the defendant is absent from the court on any date fixed for the hearing of the case, or if the defendant is not found to appear after being summoned for the hearing of the case, the court shall dispose of the case ex parte.

(2)If a case is decreed unilaterally, the defendant may, subject to the provisions of sub-section (3), apply for the cancellation of the said unilateral decree within 30 (thirty) days of the date of the said unilateral decree or of being informed of the said unilateral decree.

(3)In the case of filing an application under the provisions of sub-section (2), the defendant shall, within 15 (fifteen) days from the date of filing of the said application, deposit an amount equal to 10% of the decreed amount in cash to the concerned financial institution in recognition of the claim of the plaintiff, or as security in the form of bank draft, pay order or any other type of negotiable instrument. Must be submitted to the court

(4)On deposit of an amount equal to 10% of the amount decreed in accordance with the provisions of sub-section (3), the petition shall be allowed, the ex parte decree shall be set aside and the original suit shall be revived in its former number and record, and the Court shall record an order to that effect; and thereafter the case shall be conducted from the stage immediately preceding the stage at which it was unilaterally settled.

(5)If the defendant fails to submit to the court an amount equivalent to 10% of the amount decreed in accordance with the provisions of sub-section (3) in the form of cash in the relevant financial institution, or as security in the form of bank draft, pay order or any other type of negotiable instrument (Negotiable Instrument), the said application shall be dismissed outright; and the Court shall record an order to that effect

(6)No case pending in the Money Debt Court shall be dismissed for absence or failure of the plaintiff, and in such case the Court shall examine the documents presented on record and dispose of the case on merits.

§ 20Finality of Money Debt Court Orders

20 Notwithstanding the provisions of this Act, no question shall be raised before any court or authority in respect of any proceedings pending in the Money Debt Court or any order, judgment or decree thereof, and if any remedy is sought or sought by an application to any court or authority in disregard of the provisions of this Act, such application shall not be entertained by any court or authority.

§ 22Mediation

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[22. (1) Notwithstanding any provision relating to the trial or hearing of a suit in the general manner described in section IV, after the defendant has filed a written reply in any suit instituted under this Act, the Court shall, subject to the provisions of section 24, refer the suit to the parties, to the appointed advocates or, if no advocates have been appointed, to the parties for the purpose of settling the dispute by mediation.

(2)The advocates appointed in a case referred under sub-section (1) may, in consultation with the parties to the case and by mutual consent, appoint another advocate, who is not employed by any of the parties, or a retired judge, a retired officer of a bank or financial institution, or any other competent person, as an arbitrator for the purpose of settling the case:
Provided, however, that any person employed in a position of gain in the affairs of the Republic shall not be eligible to be appointed as an arbitrator under this section.

(3)the court shall not fix the fees of lawyers and mediators and the mode of mediation when referring a case for attempted settlement by mediation; The lawyers concerned, the parties shall determine the fees and mode of mediation based on mutual consent of the mediator.

(4)The arbitrator shall submit a report to the court after the conclusion of the mediation proceedings, respecting the confidentiality of the parties' information, and the said report shall bear the signatures of the parties as executors, or, as the case may be, the impressions of the left thumbs, and the signatures of the arbitrator and the advocates; However, if the dispute is settled through mediation, the terms of such settlement shall be recorded in writing in the form of an agreement.

(5)The court, on the date on which it orders the dispute settlement of the case through mediation, shall complete the mediation process within 60 (sixty) days from the said date, unless the court has extended the said period by a maximum of 30 (thirty) days upon the request of both parties by a strong written application, or on its own initiative with due cause.

(6)Within 10 (ten) days of the order for mediation under sub-section (1), the parties shall notify the court in writing of the name of the arbitrator and if the parties fail to appoint an arbitrator within this period, the court shall appoint an arbitrator.

(7)The Court shall pass the necessary order or decree on the basis of the report referred to in sub-section (4) and subject to the provisions of section 24.

(8)Mediation proceedings under this section shall be confidential and any discussion or consultation held between the parties, their appointed lawyers, representatives and mediators, any evidence presented, any admissions, statements or comments made shall be deemed confidential and shall not be referred to or admissible as evidence at any stage of the hearing of the said case or in any other proceedings thereafter.

(9)Notwithstanding anything contained in the Court Fees Act, 1870 (Act No. VII of 1870), if any dispute under this section is settled by mediation, the Court shall issue a certificate from the Collector in favor of the plaintiff for the refund of the entire court fee paid on the application and the plaintiff shall be entitled thereto to recover the court fee paid.

(10)An order for the settlement of a case by mediation under this section shall be deemed to be final and no appeal or revision shall lie to a higher court against the said order.

(11)If the attempt to settle the dispute through mediation fails, the court shall resume the hearing of the case from the previous position of the mediation proceedings.]

§ 23Again, the adoption of alternative dispute resolution methods

1
[23. (1) If the dispute is not settled by alternative method through mediation under Section 22, both parties may settle the case by alternative method as per the provisions mentioned in sub-sections (2), (3) and (4) of Section 22, with the permission of the court, at any stage of the case before the judgment or order is passed by the court in accordance with the provisions of paragraph 4.

(2)The opportunity to settle the case through mediation provided under sub-section (1) shall not interfere with the period for settling the case mentioned in section 17 of this Act.]

§ 24Mediation [***] Empower local level officials to play an effective role in meetings

24
2
[(1) In order to give effect to the purpose of alternative settlement of cases through mediation under this Act, the financial institution shall issue orders or circulars by its Board of Directors or similar appropriate level, by passing a resolution or decision to that effect, delegating due powers to the appropriate manager or officer at the central, regional and local levels.]

(2)The financial institution shall, in the order or circular issued under sub-section (1), clearly state the extent of the powers conferred and delegated and the manner and principle of exercise of those powers.

(3)The financial institution shall send a copy of the order or circular issued under sub-section (1) to the local money-debt court concerned.
3
[(4) The Court shall, before passing a decree or order pursuant to a compromise arrived at in the alternative mode of mediation under this Act, satisfy itself that the said compromise has been made within the limits prescribed in sub-section (2) and has been approved by the Managing Director or Chief Executive Officer of the financial institution, as the case may be.]

§ 25Acceptance of reports on alternative settlement of disputes relating to higher claims

1
[25. Any case of a financial institution involving a claim exceeding five crores of rupees shall be approved by the Managing Director or Chief Executive, by whatever name, of the concerned financial institution in respect of the report prepared for alternative settlement through mediation under this Act.]

§ 26Application of Civil Procedure Act

26 The
Code of Civil Procedure, 1908
The provisions relating to the issuance of money decrees thereunder shall, subject to not being inconsistent with the provisions of this Act, apply to the issuance of decrees under this Act.

§ 27Court of issue

27 (1) Any order or decree passed by the Debt Court shall be issued by the said Court, or by the court to which the said Court sends for issuance.

(2)If a single Money Debt Court has been established under this Act for two or more districts and the proceedings arising out of the judgment or order passed by the said Money Debt Court must be enforced in a district which is different from the district in which the Money Debt Court is situated, then the Court, through the District Judge of the district in which the Money Debt Court is situated, shall send the proceedings to the District Judge of the above-mentioned different district for execution.

(3)The District Judge shall refer the writ case received under the provisions of sub-section (2) to any court of competent jurisdiction under his administrative control for disposal and in such disposal the provisions relating to writs under this Act shall apply as if that court was a money-debt court established under this Act.

§ 28Deadline for filing case for issuance

(1)The
Limitation Act, 1908
and The
Code of Civil Procedure, 1908
Notwithstanding any provision to the contrary, if the decree-holder intends to enforce the decree or order by the court, the decree or order is not passed.
1
[within 1 (one) year], subject to the provisions of section 29, shall apply to the Court for issuance and file a suit.

(2)Notwithstanding the provisions of sub-section (1), after passing the decree or order
2
After the lapse of [1 (one) year], any case filed for issuance shall be dismissed on the merits and the case dismissed on the same merits shall be dismissed directly by the court without accepting it for action.

(3)If a second or subsequent suit for issuance is filed after the lapse of one year after the dismissal or settlement of the first or previous issuance suit, the said suit shall be dismissed; And the court will directly dismiss the similar cases in Tamadi without taking them for action

(4)If any new suit for issuance is filed after the lapse of 6 (six) years after the filing of the first suit for issuance, the said suit shall be dismissed; And the court will directly dismiss the similar cases in Tamadi without taking them for action

§ 29Special provisions relating to time limits

29 If the Court, at the time of passing the judgment, has fixed any time limit for the payment of the sum decreed in lump sum or in installments, the time limit mentioned in section 28(1) shall come into force after the expiry or invalidity of such time limit.

§ 30Provisions relating to issue of notice

1
[(1)] Notwithstanding anything contained in any other law for the time being in force, the decree-holder shall file with the court all summonses for the issuance of notices, together with the application for issuance, to be sent by registered post with acknowledgment of receipt by the issuer of the court, and the court shall forthwith arrange for their simultaneous issuance, and if the issuer is not returned within 15 (fifteen) days of the issue of the summons. comes, or is returned unissued, then the court shall, within 15 (fifteen) days thereafter issue a notice by publication of an advertisement in any widely circulated Bengali national daily newspaper, and further in a local newspaper, if any, at the cost of the plaintiff, and further if deemed necessary in the interest of justice, and such issuance shall be deemed to be lawful issuance.
2
[(2) In the case of issuing a notice through a newspaper under sub-section (1), the court shall issue the notice in the said newspaper in the name of the newspaper notified in writing by the decree-holder.]

§ 31Suspension of Proceedings of Issue

31 An appeal or revision filed in a higher court against any order or decree passed by the Debt Court shall not automatically stay the proceedings of the writ; Proceedings of the writ shall be stayed accordingly only if the High Court expressly grants a stay to that effect.

§ 32Objection against issuance

(1)If a third party submits a claim under the provisions of the Civil Procedure Act in a pending case arising out of the decree or order of the Debt Court, if the court does not directly reject the claim in preliminary consideration, the decree holder may file a written objection against it within 30 (thirty) days and demand a hearing.
1
[(2) In presenting a claim as aforesaid, the applicant shall furnish security or bond equal to 10% of the decreed amount, or part of the decreed amount, if already recovered, of the unpaid portion, and the claim shall be rejected if such security or bond is not furnished.]

(3)The Money Debt Court, if it entertains any claim under sub-section (1), in the matter concerned
2
[Written Objection] shall dispose of it within 30 (thirty) days from the date of submission and if for any reason fails to dispose of it within 30 (thirty) days, the written reason shall be: , may be extended for another 30 (thirty) days beyond the said period.
3
[(4) If the court after disposing of the written objection filed under sub-section (3) finds that the application containing the claim under sub-section (1) was filed with the mala fide intention of delaying or defying the decreer's dues, the court may by the same order while dismissing the said application, the security or bond filed under sub-section (2) shall confiscate and recover the decreed money in the same manner as the money under the forfeited security or bond shall be recovered by the court and shall pay the amount recovered to the decreer.]

§ 33Auction sale

33 (1) In the case of the sale of any property at the time of issuance of the decree or order, the money-debt court shall invite sealed tenders at the cost of the plaintiff within 15 (fifteen) days from the date of publication of the notice, the said notice shall be published at least in a widely circulated Bengali national daily newspaper, and if deemed necessary in the interest of justice, in a local newspaper, if any; And the notice will be posted on the notice board of the court and also disseminated locally with the help of drums
1
[(2) Every bidder, 20% of the quoted price below 10,00,000 (ten lakh), 15% of the quoted price above 10,00,000 (ten lakh) and below 50,00,000 (fifty lakh) and 10% of the quoted price above 50,00,000 (fifty lakh), bank The draft or pay-order shall be filed with the tender in favor of the court.

(2a)Tenders shall be submitted directly to the prescribed tender box or by registered post to the prescribed authority within the prescribed time.

(2b)Within 30 (thirty) days after receipt of quoted price below 10,00,000 (ten lakh) rupees, within 60 (sixty) days after receipt of quoted price above 10,00,000 (ten lakh) rupees and below 50,00,000 (fifty lakh) rupees and 90 (ninety) days after receipt of quoted price above 50,00,000 (fifty lakh) rupees. day, the bidder shall pay the full price and failing to do so, the court shall forfeit the security deposit:
Provided, however, that if the concerned decreer-financial institution files a written application and requests for an extension of the period for the convenience of the obligor, the court may extend the period prescribed under this sub-section up to 60 (sixty) days.

(2c)If the court is informed in writing on behalf of the decree-holder that the price offered for the property in the tender submitted under sub-section (2) is abnormally inadequate or low and if the court agrees thereto, the court may, by recording reasons, reject the said bid.]

(3)2
[under sub-section (2b)] if the security is forfeited, the money thereof shall be paid to the decreer, the said money shall be adjusted against the decreed claim, and the Court shall, if the price quoted by the second highest bidder and the previously forfeited security together be not less than the price quoted by the highest bidder, shall call upon the said second highest bidder to purchase the property by auction; and the second highest bidder
3
shall pay [the full amount within the period prescribed in sub-section (2B) after being summoned] and failing to do so, his security shall be forfeited and the said security shall be paid to the decree-holder in adjustment with the decree claim.

(4)Any property
4
[In accordance with the provisions of sub-sections (1), (2), (2A), (2B), (2C) and (3)] If auction sale is not possible, the court shall again publish a notice in at least 2 (two) widely circulated Bengali national newspapers, and if necessary in the interests of justice, in a local newspaper, if any, in a manner similar to sub-section (1) and by hanging a notice on the notice board of the court and by drumming locally. will call for sealed tenders; and on sale and forfeiture
5
[Provisions mentioned in sub-sections (2), (2A), (2B), (2C) and (3)] shall follow.
6
[(4A) In the case of issuing a notice through a newspaper under sub-sections (1) and (4), the court shall publish the notice in the newspaper in which the name of the newspaper is notified in writing by the plaintiff.]

(5)Any property
7
[Sub-sections (1), (2), (2A), (2B), (2C), (3) and (4) If sale is not possible, the said property shall vest in favor of the decedent with the right of possession and enjoyment until the decreed claim is fully paid, and the decedent shall
8
[Subject to the provisions of sub-sections (1), (2), (2A), (2B), (2C), (3) and (4)] may sell the said property to recover the demand for the unpaid decree, and the Court shall issue a certificate to that effect.

(6)If the amount in excess of the decreed amount is collected for sale, the said excess amount shall be returned to the debtor, and if the amount sold is less than the demand of the decree, for the remaining amount, subject to the provisions of section 28, the suit for further issuance shall be admissible.
9
[(6A) Notwithstanding anything contained in sub-sections (5) and (6), where any property, including rights of possession and enjoyment, vested in favor of the decedent, the decedent is unable to sell the said property by public auction at a reasonable price, subject to the provisions of section 28, a suit for writ may be filed, excluding the fixed price or reasonable estimated value of the said property.

(6b)Notwithstanding anything to the contrary contained in this section, in the case of any property vested under sub-section (5), including rights of possession and enjoyment, in favor of the decedent, within 6 (six) years of such vesting, the decedent shall, within 6 (six) years of such vesting, apply to the court in writing on behalf of the decedent under sub-section (7) to acquire ownership of the said property, failing which 6 (six) years have elapsed. As soon as this happens, the ownership of the decedent in the said property shall automatically be transferred and a declaration or certificate to that effect shall be obtained from the concerned court.]

(7)Notwithstanding the provisions of sub-sections (4) and (5), if the decedent applies in writing to the Court for possession of the said property, the Court,
10
[Without prejudice to the provisions of sub-sections (1), (2), (2A), (2B), (2C) and (3)], shall refrain from following the proceedings of sub-sections (4) and (5); and at the request of the decedent shall issue a certificate to that effect declaring that the ownership of the said property has been vested in the decedent's favor and such certificate issued shall be deemed to be a document of ownership; and the court shall send a copy thereof to the office of the local sub-registrar concerned for registration.
11
[(7A) If possession of the property under sub-section (5) or (7) is required to be obtained by the Court, the Court may, on the written application of the decedent, assign possession of the said property to the decedent.

(7b)Before assigning possession of the property to the decree-holder under sub-section (7a), the Court shall be satisfied again that the said property has been lawfully mortgaged by its beneficial owner against the debt related to the decree or that the said property has been encumbered as the real possession of the debtor for the purpose of executing the decree.]

(8)Notwithstanding anything contained in any other law for the time being in force, no tax or registration fee shall be chargeable in respect of a certificate issued under sub-section (7).

(9)If the right of possession and enjoyment of the property under sub-section (5) or the ownership of the property is vested in favor of the decreer under sub-section (7), subject to the provisions of section 28, the said decree shall be the final settlement of the case.

§ 34Civil restraining orders

34 (1) Subject to the provisions of sub-section (12), the Debt Court may, on an application filed by the decree-holder, detain the debtor in civil prison for a term which may extend to 6 (six) months in an attempt to compel the payment of the decree-money.

(2)The provisions mentioned in sub-section (1) shall not apply to liable heirs substituted under the Family Succession Act on account of the death of the original borrower.

(3)If it is necessary to detain the defendant-responsible in civil prison in order to enforce the pending case against any company, joint business organization or any other corporate body, the said company, joint business organization or corporate body shall be deemed to consist of all natural persons according to the law or rules, those persons shall be jointly and severally liable for detention in civil prison.

(4)The provisions of sub-section (3) shall not be operative against any such person who, subsequent to the acceptance of the debt concerned by the decree, has been succeeded by any of the above-mentioned persons or classes of persons by inheritance.

(5)No person detained in civil prison under sub-section (1) or (3) shall be released from civil prison until the demand of the decree is paid in full, or the period of 6 (six) months, whichever is earlier, and the court shall order him to be released from civil prison on full payment of the decree.

(6)Notwithstanding the provisions of sub-section (5), the court shall release the obligee if the obligee detained in civil prison pays in cash an amount equal to 25% of the unpaid debt of the decreer to the effect that he will pay the remaining arrears within the next 90 (ninety) days.

(7)If the obligor fails to pay the balance due in accordance with the conditions of the bond referred to in sub-section (6), he shall be liable to re-arrest and detention in civil prison, and if such re- detention in civil prison, it shall be deemed to be a fresh detention which may extend to six months.

(8)The cost of maintenance of a person detained in civil prison under this Act shall be borne by the Government at the same rate as the corresponding expenses of the defendant under trial, and subsequently the Government may recover the said expenses from the decree-holder as a public debt, and the decree-holder may recover the said amount for the costs of the suit.

(9)The court shall not order the civil imprisonment of any obligee under this section, unless at least one auction sale proceeding has been previously held and the decreer's dues have been fully recovered by it.

(10)If for any reason it is not possible to hold an auction sale under sub-section (9), the person responsible shall be immediately arrested and detained in civil prison.

(11)No person under 18 (eighteen) years of age shall be arrested or detained or detained in civil prison for the execution of a decree under this section.

(12)In a suit instituted for the purpose of execution of any decree or order under this Act, even if the number of suits instituted is more than one, if any of the defendants has been arrested and detained in civil prison for the full term, he shall not be again arrested and detained in civil prison.

(13)A person liable under this section shall not be discharged from liability by reason of his being detained in civil prison for a partial or full term, and unless he is discharged by the measures prescribed under this Act, a fresh suit shall be instituted against him.

§ 35Provisions regarding designation of Magistrates

35 In the course of proceedings under this Act, the Court shall be deemed to be a Magistrate of the first class for the purpose of issuing warrants of arrest and detention in civil prison, and until the appropriate forms are prepared under this Act, the said Court shall, in the said matter,
Code of Criminal Procedure, 1898
Its relevant forms, subject to necessary modifications (Mutatis Mutandis), shall be used

§ 36Collection of decree money from third parties

36 (1) If the decree-holder informs the court by application that a sum of money is due from any person, the court, if the court thinks fit at the end of the hearing, shall make an order in writing to deposit into the court an amount equal to the sum decreed, and the court, after the recovery of the said sum, shall issue a receipt for the same; And by the said receipt the person shall be legally freed from the debt to the obligor for that amount of money.

(2)Notwithstanding any other prevailing law, if any money is due from any post office, bank, financial institution or insurer as mentioned in the provisions of sub-section (1), the court may, after hearing and satisfied to satisfy the decree from the said post office, bank, financial institution or insurer, collect the said money by garnishment; And in this case no pass book, deposit receipt, policy paper, any other document, entry, indorsement or any other similar instrument shall be required to be produced by the court.

(3)In case of disobedience of the order given by the court under sub-sections (1) and (2), an equal amount of money shall be recoverable from the person responsible for the disobedience or the institution as fine, and the same court shall collect the said amount as fine as a magistrate of the first class and with the relevant powers.

§ 37Deadline for settlement of pending proceedings

37 (1) Subject to the provisions of sub-section (2), the Debt Court shall dispose of the pending case within 90 (ninety) days from the date of filing of the application and failing that the Court may extend the said period by a maximum of 60 (sixty) days by recording the reason.

(2)If the court spends any time under section 32 of this Act for the purpose of settling any claim of any such party who is not a party to the suit, or if any time is granted to the obligor under section 49 for the payment of money decreed in installments, such time shall be added to the time mentioned in sub-section (1).

§ 38Settlement of disputes through mediation at issuance stage

1
[38. (1) The parties may settle the matter of the pending case through mediation and notify the court at any stage of continuation of the proceeding in continuation of the decree given in the money debt court case under this Act.

(2)In the case of mediation under sub-section (1), the provisions mentioned in sub-sections (2), (3) and (4) of section 22 shall be followed.

(3)The Court, upon being notified under sub-section (1) and being satisfied with the settlement, shall make an order finally disposing of the pending suit.]]

§ 39Formulation of Issue Rules

39 The Government may, subject to the provisions of this Act, by notification in the Official Gazette, make such further rules as may be necessary in respect of issuance.

§ 40Application of Civil Procedure Act

40 In appeal and revision proceedings under this section, the relevant provisions of the Civil Procedure Act shall apply, subject to not being inconsistent with the provisions of this Act.

§ 41Special provisions relating to filing and disposal of appeals

(1)If any party to the suit, any money debt is aggrieved by the order or decree of the court, if the amount of money decreed exceeds fifty (fifty) lakhs of rupees, then subject to the provisions of sub-section (2),
1
in the High Court Division within [next 60 (sixty) days], and if the amount decreed is fifty (fifty) lakhs or less,
2
[If that happens, you can appeal to the district judge within the next 30 (thirty) days.]

(2)If the appellant deposits cash equal to 50% of the decreed amount to the financial institution of the decreer in partial recognition of the plaintiff's claim, or if the plaintiff's claim is not accepted, he deposits it as security in the court issuing the decree and submits the proof of such deposit to the court along with the application or memorandum of appeal, no appeal under sub-section (1) shall be entertained.

(3)Notwithstanding the provisions of sub-section (2), if the defendant-liable has already deposited 10% (ten percent) of money as cash or security as per the provisions of section 19(3), the said 10% (ten percent) of money shall be deducted from the above-mentioned 50% (fifty percent) of money in case of filing an appeal under that section.

(4)Notwithstanding the aforesaid provisions, if the plaintiff-financial institution files any appeal under this section, it shall not be required to deposit any money or security as aforesaid.

(5)As soon as the District Judge receives any appeal, he shall state in writing whether he himself will hear the said appeal or not, and if he himself decides not to hear the said appeal, he shall forthwith refer the said appeal to any additional District Judge, if any, under his jurisdiction for hearing; And if there is no Additional District Judge, the District Judge himself shall hear the said appeal

(6)The Appellate Court shall dispose of the appeal within 90 (ninety) days after its receipt, and if it fails to dispose of the appeal within 90 (ninety) days, the Court may, by giving reasons in writing, extend the said period by not more than 30 (thirty) days.

§ 42Provisions relating to filing and disposal of revisions

42 (1) No court shall entertain any revision petition against a judgment or decree passed in appeal, unless the petitioner has deposited an amount equal to 75% of the amount of the decree awarded or upheld by the appellate court, including 50% of the amount deposited at the time of filing the appeal, the said amount being accepted by the concerned financial institution, or if the claim of the plaintiff is not accepted as security in the form of bank draft, pay-order or The decree grantor submits to the court in the form of any other negotiable instrument that can be cashed and submits the proof of such deposit to the court along with the application.

(2)Notwithstanding the provisions of sub-section (1), if the plaintiff-financial institution files a revision under this section, it shall not deposit or furnish any money or security as aforesaid.

(3)The superior court shall dispose of the revision petition within 60 (sixty) days after its receipt, and if it fails to dispose of the revision within 60 (sixty) days, the court may, by giving reasons in writing, extend the said period by not more than 30 (thirty) days.

§ 43Appeal to the Appellate Division of the Supreme Court

43 In the case of the Appellate Division granting permission to the borrower-defendant to file an appeal with the Appellate Division against any judgment, decree or order passed in appeal or revision by the High Court Division under this Act, if it thinks fit, to order any amount of the unpaid balance of the decreed money to be deposited in cash with the plaintiff-financial institution or as security in the court granting the decree in a manner similar to section 42(1). Can

§ 44Interim order

44 (1) The Money Debt Court may make such interim orders as it thinks fit to grant due and complete trial and justice to the case and to prevent abuse of process.

(2)Subject to the provisions of sub-section (3), no interim order passed by any court under this Act shall lie in appeal or revision to a higher court.

(3)Notwithstanding the provisions of sub-section (2), a party may, in an appeal filed under section 41, take as argument any such matter which cannot be disputed by reason of the aforesaid provision, and the Appellate Court may take such matter into consideration and pass such order as may be appropriate in the interests of justice.

§ 44AMediation at the stage of appeal or revision

1
[44a. (1) At any stage of the continuance of the appeal or revision proceedings under section 7, the parties may, through mediation, notify the court after settling the subject of the appeal or revision case.

(2)In the case of mediation under sub-section (1), the provisions of sub-sections (2), (3) and (4) of section 22 shall be followed.

(3)If the Court is informed under sub-section (1) and is satisfied with the settlement, it shall make an order finally disposing of the said appeal or revision case.]

§ 45Compromise settlement of cases

45 (1)
1
[***] Nothing in this Act shall prevent the parties from amicable settlement of any case at any stage subsequent to the judicial proceedings.

(2)The opportunity for amicable settlement of cases provided under sub-section (1) shall not prejudice or interfere with other procedures and time limits prescribed in this Act for settlement of cases.

§ 46Special provisions and time limits related to filing of cases

46 (1) The
Limitation Act, 1908
(Act No. IX of 1908) notwithstanding any provision to the contrary, after the commencement of repayment of the loan from the borrower as per the agreement or terms of the agreement executed by any financial institution-
(a) 10% of the amount due in the first year, or
(b) another 15% of the amount due in the first two years, or
(c) Another 25% of the amount due in the first three years.
If the amount is not recovered, subject to the provisions of sub-section (2), the suit shall be filed within one year thereafter.

(2)If the financial institution has rescheduled the loan repayment schedule within the period mentioned in sub-section (1), the provisions of the said sub-section (1), subject to the necessary changes accordingly (Mutatis Mutandis), shall come into effect anew.

(3)According to the repayment schedule mentioned in sub-section (1), in the case that the fixed repayment period is less than 3 (three) years, if the amount of recovery is less than 20% within the specified repayment period, the financial institution shall file a case within 1 (one) year thereafter subject to the provisions of sub-section (4).

(4)If the financial institution has rescheduled the repayment schedule within the period mentioned in sub-section (3), the provisions of the said sub-section (3), subject to the necessary changes accordingly (Mutatis Mutandis), shall come into effect anew.

(5)If any suit is filed within the period mentioned in sub-section (1) or, as the case may be, (2) and (3) or, as the case may be, (4), the Court shall immediately notify the matter in writing to the chief executive of the financial institution concerned; and if the said case is not filed within the period due to failure of any officer to perform his duty, the competent authority shall take disciplinary action against such responsible officer and shall inform the Government and the Court of the action taken within 90 (ninety) days of being notified under this sub-section.

(6)The provisions of this section shall come into force one year after the coming into force of this Act:

Provided that, any financial institution may give effect to the provisions of this section even before the provisions of this section come into force.

§ 47Limitation on Claims

47 (1) Notwithstanding any other law for the time being in force or any relevant agreement executed between the parties, in case of filing a case under this Act, no financial institution shall file a case in the court imposing liability on the original loan given to the borrower in such a way that the total claim raised in the court is more than 200% (100+200 = 300 Taka) of the original loan.

(2)Similar claims exceeding 200% of the original debt as stated in sub-section (1) shall not be accepted by the Court

(3)The provisions of this section shall come into force one year after the coming into force of this Act:

Provided thatany financial institution may, if it so desires, comply with the provisions of this section even before the coming into force of this section.

§ 48Counting the days

48 In calculating the days under this Act, only the working days of the Judge shall be counted and the working days of the Judge on temporary charge shall also be included in the same calculation.

§ 49Loan installments

49 (1) Subject to the provisions of sub-section (3), the Debt Court may, on the application of the defendant-debtor or if it thinks fit on its own initiative, grant an opportunity to the obligee to pay the decreed amount in 4 (four) equal installments in 1 (one) year.

(2)If the plaintiff-decree agrees, subject to the provisions of sub-section (3), the court may grant an opportunity to the obligee to pay the decreed amount in 12 (times) installments in 3 (three) years.

(3)As soon as any of the installments referred to in sub-section (1) or (2) become due, the entire amount due shall be paid and the proceedings issued for that purpose shall be duly followed.

§ 50Provisions relating to interest, profits

50 (1) Subject to the provisions of section 47, no court under this Act shall, for the period from the date of grant of the loan to the date of filing of the suit, excuse or disallow interest, or, as the case may be, reduction of profit or rent lawfully charged by any financial institution on any loan.

(2)If the defendant-liable party does not file any appeal, revision, appeal to the Appellate Division or any other application in any higher court against the decree given by the money-debt court, on the amount decreed for the period from the date of filing of the suit to the date of collection of the decree money.
1
[12% (times per cent)] at the simple rate per annum, in case of any appeal, revision or any other petition filed in any higher court for the aforesaid period
2
[16% (sixteen per cent)] at the simple rate per annum, and on appeal to the Appellate Division against the decree or order of the High Court, interest at the rate of 18% (eighteen per cent) per annum simple for the aforesaid period, subject to the provisions of sub-section (3), interest, or, as the case may be, profit.

(3)Notwithstanding the provisions of sub-section (2), if the superior court passes any order or decree altering the quality of the decree or order appealed or disputed in an appeal, revision, appeal to the Appellate Division or any other petition, the said court may pass an order to the effect that the above-mentioned increased rate of interest or profit shall not be applicable to the appellant or petitioner.
3
[(4) Notwithstanding anything to the contrary contained in the preceding sub-sections of this section, if any defendant-liable directly or indirectly contests the order or decree of the lower court without depositing such prescribed amount or, as the case may be, security, notwithstanding the opportunity for the defendant-liable to file an appeal or revision in the higher court under the provisions of sections 41 and 42 file a writ petition in the High Court Division and the said writ petition is dismissed by the High Court Division or the Appellate Division, interest at the simple rate of 25% per annum for the period mentioned in sub-section (2) or, as the case may be, profit shall be charged.]