Section 40, International Financial Services Centers Authority Act, 2019 [S29-DER]
As at 6 September 2026. In force from 7 May 2020 by S.O. 120(E) [N12-KAS].
40. Appeal.—(1) Any person aggrieved by an order of the Reserve Bank under this Act may, within seven days from the date on which the order is communicated to him, prefer an appeal to the Debts Recovery Tribunal in such form and accompanied by such fee as may be prescribed. (2) The appellate authority may, after giving the appellant an opportunity of being heard, confirm, modify or set aside the order appealed against. (3) No appeal shall lie under this section against an order made with the consent of the parties.
Defined terms in this text (1)
Reserve Bank: Section 2, International Financial Services Centers Authority Act, 2019 [S29C8G] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
Made under this section, or naming it (0)
none
Cited by (2)
Section 43, International Financial Services Centers Authority Act, 2019 [S29-DH3], 28 July 2019, Band A. "section 40".
Rule 9, International Financial Services Centers Authority Act Rules, 2022 [S2B-021], 14 April 2022, Band A. "section 40 of the Act".
Not held (0)
none
Duties published under this section (0)
none