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.........................................................................................................................Book DescriptionRecovery of Debts due to Banks and Financial Institutions Act, 1993 was enacted in year 1993 as a step to recover the dues locked up with the defaulters of Banks and financial Institutions. Debts Recovery Tribunals were established under the provision of the Act for expeditious adjudication of claims of banks and financial institutions and speedy recovery of their dues... To achieve the objective the procedures have been simplified and powers are given to the Tribunals to decide the matters guided by principles of natural justice and ensure fair play.Section 23 of the Act provides not only for engaging legal practitioners but also the officers of the Banks and the defendant personally or through its officers to present their respective cases before the Debts Recovery Tribunals and Appellate Tribunals. Therefore, keeping in view of this provisions, the author has given elaborate explanation for each section of the Act in a lucid manner.The special feature of this book is a detailed note on each rule of Schedule II of the Income Tax Act, 1961 comparing with the Civil Procedure Code as those rules are made applicable under Section 29 of the Act which aim at recovering the dues ascertained under Recovery Certificate issued by the Presiding Officer after adjudication of claims. The book also presents the latest case law of various High Courts and Supreme Court. For ready reference full texts of the important judgments of the Apex Court have been appended.Allied Acts like the Bankers Books Evidence Act, 1891 as amended by Information Technology Act, 2000. Banking Regulation Act, 1949 and relevant extracts from the Civil Procedure Code, 1908 and Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with rules have been given to make this book more useful. All the rules framed by the Central Government and regulations made by the Tribunals are also appended. This edition is brought out in a revised and improved form to make it more useful. Considerable effort has been made in this edition to update case law on the subject. This fourth revised edition has become necessary in view of the increased circulation of the previous edition all over the country..........................................................................................................................ContentsPart I – Act• The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 [Act No. 51 of 1993] • Introduction Part II – Recovery Procedure• The Second Schedule — Procedure for Recovery of Tax• The Third Schedule — Procedure for Distraint by [Assessing Officer [or Tax Recovery Officer]• Income-Tax (Certificate Proceedings) Rules, 1962Part III - Rules1. The Debts Recovery Tribunal (Procedure) Rules, 19932. The Debts Recovery Appellate Tribunal (Salaries, Allowances and other conditions of service of the Officers and Employees) Rules, 1993 3. The Debts Recovery Tribunal (Salaries, Allowances and other conditions of service of Recovery Officer and other Officers and Employees) Rules, 1993 4. The Debts Recovery Appellate Tribunal (Salaries, Allowances and other terms and conditions of service of Presiding Officer) rules, 1993 5. The Debts Recovery Tribunal (Salaries, Allowances and other terms and conditions of service of Presiding Officer) Rules, 1993 6. Tie Debts Recovery Appellate Tribunal (Procedure) Rules, 19947. The Debts Recovery Appellate Tribunal (Financial and Administrative Power) Rules, 19978. The Debts Recovery Tribunal (Financial and Administrative Power) Rules, 19979. Debts Recovery Appellate Tribunal (Procedure for appointment as Chairperson of the Appellate Tribunal) Rules, 1998 10. Debts Recovery Tribunal (Procedure for appointment as Presiding Officer of the Tribunal) Rules, 1998 Part IV – Regulation• The Debts Recovery Tribunal Regulations of Practice, 1996Part V – The Judgment• Full Text of Important JudgmentsPart VI – Allied Laws1. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 2. The Security Interest (Enforcement) Rules, 2002 • Relevant Extracts from Allied Acts• The Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000• The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004Part VII - Notifications1. Establishment of Debts Recovery Appellate Tribunal2. Establishment of Debt Recovery Tribunals3. List of Banks and Financial Institutions eligible to file application before Debts Recovery Tribunal under Sec. 19 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993Addresses of DRT'sSubject Index.........................................................................................................................Author DetailsThe author is practising advocate, enrolled himself in the year 1969-Specialised in Banking and Corporate Laws-Participated in several seminars and workshops and was also faculty in related training programmes and attended many programmes sponsored by All India Financial Institutions.His other books include Commentary on (1) The Family Courts Act, 1984 (2) Law relating to Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002, which have been well received by the readers through out the country.These books have been acclaimed by legal and other journals including national daily 'The Hindu". He has versatile knowledge in many branches of Law with professional interest in the side of Banking Law. He has been handling cases in Debt Recovery Tribunal from their very inception in Andhra Pradesh and Karnataka states..........................................................................................................................
