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An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions 1 [,insolvency resolution and bankruptcy of
The Recovery Of Debts And Bankruptcy Act, 1993 Long Title: An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto.
The Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) provides speedy redressal to lenders and borrowers through filing of Original Applications (OAs) in Debts Recovery Tribunals (DRTs) and appeals in Debts Recovery Appellate Tribunals (DRATs).
Feb 27, 2017 · In the case of SARFESAI Act, if the asset has been declared as Non-Preforming Asset (NPA), eligible banks and financial institutions after enforcing security can recover remaining amount under RDDBFI Act which is in excess, of Rupees One Lakh.
The Recovery of Debts and Bankruptcy Act, 1993. Introduction. Debt Recovery Tribunals have been established to facilitate the debt recovery process involving banks and financial institutions with their customers.
Jul 18, 2022 · The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993 with the specific objective of providing expeditious adjudication and recovery of debts due to Banks and Financial Institutions.
of the Recovery of Debts and Bankruptcy Act, 1993 which provides for deposit of the amount of debt due on filing the appeal. Section 21 of the RDBA reads as hereunder: “Deposit of amount of debt due, on filing appeal – Where an appeal is preferred by any
