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ARTICLE · 14 SEPTEMBER 2017

Presentation On Recovery Process & Enforcement Of Security Interest In India

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Indian Legal system encompasses varied legal provisions for recovery of debts by the Banks and Financial Institutions as follows :-

IndiaFinance and Banking
SNG & Partners
SNG & Partners

OVERVIEW OF THE PRESENTATION

  • RECOVERY OF DEBTS – LEGAL FRAMEWORK IN INDIA
  • DEBT RECOVERY TRIBUNALS & PROCESS OF RECOVERY
  • RECOVERY OF DEBTS (DUE TO BANKS AND FINANCIAL INSTITUTIONS) ACT 1993 ("DRT ACT")
  • SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2003 ("SECURITISATION ACT")

DEBT RECOVERY – LEGAL FRAMEWORK IN INDIA

Indian Legal system encompasses varied legal provisions for recovery of debts by the Banks and Financial Institutions as follows :-

  • Summary suits under Order XXXVII of the Code of Civil Procedure, 1908.
  • Ordinary suits for recovery, under Civil Law.
  • Original Applications to be filed by Banks and Financial Institutions before Debt Recovery Tribunal for debt not less than Rs. 10 lakhs, under Recovery of Bank Due to Banks & Financial Institutions Act, 1993 (DRT Act).

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