Kochi: The Kerala High Court today criticised Centre over the delay in the appointment of a presiding officer for the Debt Recovery Tribunal (DRT) here,saying the Union Government is "sleeping on its duties and responsiblities in the banking sector.

It is extremely unfortunate that in the present commercial banking scenario, the Central Government was sleeping on its duties and responsibilities in the banking sector Justice Thothathil B Radhakrishnan said while hearing a petition filed by the private Federal Bank.

The bank sought permission to recall the proceedings initiated by it for the sale of property belonging to P V Ukkuru International Traders, Kochi, to recover Rs six crore due to the bank in the absence of a presiding officer in the DRT, Kochi and to initiate civil proceedings to recover the amount rather than waiting for the appointment of the official It is for the banks to take up this issue with the Central Government since the absence of a presiding officer in the DRT is neither in public interest nor a matter in which the Government can sleep on, the court held.

The judge said that the civil courts had been replaced by DRT under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993,to expedite recovery proceedings.
Source : PTI