7.2 The Recovery (the Loan Recovery Act 2058's Machinery)

The Act's character: the banks-and-institutions's special recovery statute (the fast-track's philosophy: the financial sector's health the public interest (the ordinary civil procedure's delays bypassed — the exam's frame: the special law's rationale)). The machinery's stages (the exam's sequence): The notice (the Act's preliminary): the borrower's notice (the outstanding's detail, the payment's demand within the stated period (the notice period the Act's own discipline)) — the notice's service the process's foundation (the registered-post-and-publication faces where the borrower absconds); The application to the Debt Recovery Tribunal (the "Byabyasayik Tanafasala Adalat"): the special tribunal's jurisdiction (the banks' recovery suits — the amount thresholds per the Act's design; the tribunal's exclusive-and-summary craft); the application's contents (the loan's-and-security's documentation, the default's proof); The tribunal's procedure: the borrower's objection's hearing (the limited grounds (the signature's denial, the repayment's claim, the limitation — the narrow-defence philosophy)); the summary process (the documentary focus); the decision (the recovery order: the amount- and-the costs); The auction (the collateral's sale): the security's auction (the public-auction's discipline: the valuation, the notice, the floor-price's craft (the Act's/Rules' auction procedure)); the deposit-to-bid (the bidder's earnest); the sale's completion-and-the certificate; the borrower's redemption window (the auction-before-the-confirmation faces); The enforcement-and-appeal: the order's execution (the property's attachment, the auction's proceeds' distribution (the bank's priority (the Act's secured-claim privilege))); the appeal's route (the High Court — the limited…