Letter to BS: Banks flag 'tardy' work at debt recovery tribunals

Apart from creating proper infrastructure, the thrust should be on periodic monitoring of cases, age-wise, by an authority such as a retired High Court or Supreme Court judge

This refers to Abhijit Lele's report “Banks flag 'tardy' work at recovery tribunals” (March 24). As an ex-senior executive of an all India development finance institution and currently running an enterprise assisting players in the financial sector, particularly in the stressed asset segment, I can say that the focus in the report is apt and calls for immediate attention. Endless adjournments and multiple interim or miscellaneous applications -- particularly by recalcitrant borrowers -- prolonged the whole thing. Tribunals tend to follow Code of Civil Procedure, which are aimed at thwarting attempts at recovery. Unless are there strong legal grounds, the