Recovery of debts and Bankruptcy Act, 1993 & Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

The Faculty of Law organized 41st Webinar on the topic ” Recovery of debts and Bankruptcy Act, 1993 & Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002″ a procedural approach on 16th October 2023 from 11.30 to 1.30 pm. The speaker of the session was Mr. Su. WILLYAHM, Presiding Officer, Debt Recovery Tribunal, Ernakulam, Kerala. The speaker discussed that “Indian banks and financial institutions had since long been suffering to recover debts and enforce securities from the defaulters. As the procedure regarding such recovery was erratic and extremely cumbersome, the Narasimham Committee of 1991 recommended the setting up of Special Tribunals like DRTs (Debt Recovery Tribunals) and DRATs (Debt Recovery Appellate Tribunals), in order to streamline such processes. The Committee’s recommendation led to the enactment of Recovery of Debts Due to Banks and Financial Institutions Act (“RDDBFI”) 1993, from which DRTs and DRATs derive their authority to adjudge on debt recovery matters. Since its inception, we have 39 DRTs and 5 DRATs functioning in the country”. The session was organized by Ms. Vidhusha G V and Mrs. D. Sarala, Organising secrataries and Event convenor Mrs. A. R. Vijayalakshmi and Mrs. R.Shalini . The one day webinar was conducted with guidance of Director Prof .Dr.N.Murugavel, and Dean Prof.Dr.K.Murugadoss and Faculty members. It is our sincere pleasure to thank our respected President sir for his constant support and  encouragement.