Supreme Court resolves the conflict: Civil court can try cases of borrowers against the bank or financial institution which has applied for recovery of loan against the same borrower

The recent judgement of the 3 (three) judge bench of the Supreme Court of India has resolved the conflict on civil courts entertaining counterclaims of a borrower against banks / financial institutions which are independent pursuing recovery proceedings against the same borrower before the Debt Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

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