CHAPTER III
JURISDICTION, POWERS AND AUTHORITY OF TRIBUNALS
Jurisdiction, powers and authority of Tribunals
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. (1) A Tribunal shall exercise, on and from the appointed day, the jurisdiction, powers and authority to entertain and decide applications from the banks and financial institutions for recovery of debts due to such banks and financial institutions.
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(1A) Without prejudice to sub-section (1),-
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(a)
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the Tribunal shall exercise, on and from the date to be appointed by the Central Government, the jurisdiction, powers and authority to entertain and decide applications under Part III of Insolvency and Bankruptcy Code, 2016.
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(b)
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the Tribunal shall have circuit sittings in all district headquarters.] |
(2) An Appellate Tribunal shall exercise, on and from the appointed day, the jurisdiction, powers and authority to entertain appeals against any order made, or deemed to have been made, by a Tribunal under this Act.
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