The Recovery of Debts and Bankruptcy Act, 1993

The Recovery of Debts and Bankruptcy Act, 1993 is a landmark legislation providing a structured framework for recovery of debts due to banks and financial institutions and corporate insolvency resolution in India. This book offers a detailed commentary on the Act, covering statutory provisions, filing procedures, enforcement mechanisms, and adjudication processes under the Debt Recovery Tribunals (DRTs) and National Company Law Tribunal (NCLT).

It addresses key areas such as classification of creditors, insolvency proceedings, debt recovery processes, legal remedies for defaulting debtors, and resolution of corporate insolvency. The book also examines the rights and obligations of financial and operational creditors, interim measures, appeals, and judicial interpretations to provide a practical understanding of the law.

Written in clear and accessible legal language, the book serves as an invaluable reference for lawyers, law students, banking and financial professionals, insolvency practitioners, and regulatory authorities. By integrating statutory provisions with practical insights, it equips readers to navigate debt recovery, insolvency resolution, and compliance effectively. This commentary emphasizes the Act’s critical role in safeguarding financial interests, promoting timely resolution of corporate debts, and strengthening India’s commercial and financial legal framework.