The Recovery of Debts and Bankruptcy Act, 1993 | Bare Act | Commercial Law Publishers | 2026

**Product Description:**

The Recovery of Debts and Bankruptcy Act, 1993 is a pivotal legislative framework designed to address the growing concerns of debt recovery and insolvency in India. This Act not only streamlines the process for expeditiously resolving disputes related to financial dues but also establishes a structured environment for the resolution of debt-driven crises. By providing a specialized tribunal (the Debt Recovery Tribunal), this law ensures a swift and efficient approach to settling claims, making it an essential reference for legal professionals, creditors, and borrowers alike. Dive into this comprehensive regulatory guide to enhance your understanding of debt recovery mechanisms and bankruptcy proceedings.

**Key Features:**

📜 **Structured Legal Framework:** Establishes a clear process for debt recovery and bankruptcy resolutions.

⚖️ **Specialized Tribunals:** Introduces Debt Recovery Tribunals for efficient dispute resolution.

⏱️ **Timely Resolutions:** Aims for quicker adjudication to minimize financial strains on creditors.

🔍 **Insolvency Management:** Provides guidelines to manage insolvency situations effectively.

📈 **Enhanced Recoverability:** Enhances the ability of banks and financial institutions to recover dues efficiently.