44 days Delay in filing written Statement relating to 489 Cr Outstanding Public Money: DRAT directs...

The Debt Recovery Appellate Tribunal (DRAT) has directed to pay Canara Bank, citing a delay in filing a written statement relating to outstanding public money. This ruling underscores the importance of timely response and compliance in debt recovery cases, particularly when public sector banks are involved. The DRAT likely found that the debtor's failure to file a written statement within the stipulated time amounted to a lack of diligence, warranting a directive to settle the outstanding dues. This decision supports banks in efficiently recovering public funds from defaulters.