Debtors to apply in certain cases.

1. (1) A debtor referred to in clause (f) of Section 3, may

make an application within ninety days from the date of commencement of this Act to the Debt Relief Officer having jurisdiction over the area within which mortgaged property is situated for an order releasing the mortgaged property and for the grant of a certificate of redemption.

1. (2) (a) On receipt of such an application and after such enquiry as he considers necessary, the Debt Relief Officer shall pass an order releasing the mortgaged property and grant a certificate of redemption in the prescribed form which shall, notwithstanding anything contained in any law be admissible as evidence of such redemption in any proceeding before any court or other authority;
   • (b) The Debt Relief Officer shall also direct the creditor.-
     • (i) to deliver possession of the mortgaged property to the debtor on or before the dates specified in the order if the debtor is not already in possession of the mortgaged property; and
     • (ii) to produce on or before the date specified in the order, the mortgaged deed or other document and on such production, the Debt Relief Officer shall make an endorsement of redemption on the mortgage deed or other document and forward a copy of the said endorsement to the concerned Sub-Registrar who shall, notwithstanding anything contained in any other law, register the same.
2. (3) Pending orders under clause (a) of sub-section (2), no creditor shall transfer or otherwise assign his interest in or exercise his right of foreclosure in respect of the property mortgaged by the debtor or his surety.
3. (4) Every order of the Debt Relief Officer shall subject to any order in revision under section 15 shall be final.