RECOVERY OF DEBTS AND BANKRUPTCY ACT, 1993

This edition of The Recovery of Debts and Bankruptcy Act, 1993 (Act 51 of 1993), updated with amendments including The Tribunals Reforms Act, 2021 and The Finance Act, 2021, serves as a comprehensive and reliable legal reference for students preparing for the All India Bar Examination (AIBE), as well as professionals in law, banking, insolvency, and debt recovery.

The book presents the bare text of the law—precisely as enacted—without commentary or interpretation, making it ideal for examination purposes and statutory referencing. It lays down the statutory framework for the establishment and functioning of Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) for the expeditious adjudication and recovery of debts due to banks and financial institutions, including provisions relating to bankruptcy of individuals and partnerships.

The content spans the full scope of the Act, including:

• Establishment, composition, and jurisdiction of DRTs and DRATs

• Procedure for filing applications and appeals

• Powers of the Tribunals in debt recovery proceedings

• Bankruptcy provisions for individuals and partnership firms

• Allied Rules and notifications incorporated for complete coverage:

 – The Debts Recovery Tribunal (Procedure) Rules, 1993 (as amended)

 – The Debts Recovery Appellate Tribunal (Procedure for Appointment as Chairperson) Rules, 1998

 – The Debts Recovery Tribunal (Procedure for Appointment as Presiding Officer) Rules, 1998

 – The Debts Recovery Appellate Tribunal (Financial & Administrative Powers) Rules, 1997

 – The Debts Recovery Tribunal and Appellate Tribunal Electronic Filing Rules, 2020

 – The Debts Recovery Tribunal and Debts Recovery Appellate Tribunal Electronic Filing Rules, 2021

This edition is particularly suitable for:

• AIBE aspirants seeking a statutorily accurate and updated resource

• Law students and academicians studying banking, finance, and insolvency laws

• Practising advocates representing banks, financial institutions, and borrowers

• Bank officials, insolvency professionals, and recovery agents ensuring compliance

• Policymakers and regulators in the financial sector

Whether used in the exam hall, the courtroom, or in financial recovery proceedings, this updated text delivers the full legislative authority of The Recovery of Debts and Bankruptcy Act, 1993, as it applies in 2025.