LOK ADALAT a few points for sbi PO/clerical
ALSO READ
http://www.sbank.in/2016/01/lok-adalats-in-india.html
LOK ADALAT
http://www.sbank.in/2016/01/lok-adalats-in-india.html
LOK ADALAT
1. LokAdalat is created
under Legal Services Authority Act 1987.
2. Cannot entertain dispute
cases. Only compromise cases are eligible. No court fee is payable.
3. Decisions are consent
decrees. No appeal against these decrees.
4. Civil Procedure Code is
followed by these courts as they are like civil courts.
5. Banks can also call
LokAdalt with application to High Court.
6. Amount - Normal LokAdalt
: Up to Rs.20 lac (wef Aug03, 2004)
7. Above the aforesaid
cut-off of Rs.20 lac - DRT LokAdalat.
8. Eligible accounts - NPA
(Loss and doubtful).
9. Decree for principal and
interest should be sought by banks as per RBI guidelines.
10. After full payment
discharge should be given.
11. Repayment : Preferably
down-payment. If it is instalments, max period is 1-3 years.
12. As per Supreme Court
direction personal loan cases up to Rs.10 lac, should preferably be settled
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