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Core Purpose

Notification under Section 1(4) of the Recovery of Debts and Bankruptcy Act, 1993 amending the applicability window of a 2018 notification on continued jurisdiction of the Debts Recovery Tribunal.

Detailed Summary

By notification S.O. 1796(E) dated 25th April 2024, the Ministry of Finance (Department of Financial Services), exercising powers under sub-section (4) of Section 1 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993), amended its earlier notification S.O. 4312(E) dated 6th September 2018 by inserting, after the clause providing that the amended Act continues to apply to debt-recovery applications filed before the Debts Recovery Tribunal prior to 6th September 2018, an additional clause extending continued applicability to recovery applications filed before the Tribunal during the period 26th September 2018 to 30th June 2019; the notification was issued under File No. 3/4/2018-DRT and signed by Sudhir Shyam, Economic Advisor, and notes that the principal notification of 6th September 2018 was subsequently amended vide S.O. 2478(E) dated 11th July 2019.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-25042024-253855 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 1704] NEW DELHI, THURSDAY, APRIL 25, 2024/VAISAKHA 5, 1946 2707 GI/2024 THE GAZETTE OF INDIA: EXTRAORDINARY [PART II-SEC. 3(ii)] MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 25th April, 2024 S.O. 1796(E). — In exercise of the powers conferred by sub-section (4) of section 1 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993), the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance, Department of Financial Services S.O. 4312(E) dated the 6th September, 2018, published in the Gazette of India, Extraordinary Part II, section 3, sub- section (ii), dated the 6th September, 2018, namely:- In the said notification, after the words "but shall continue to apply to debts in respect of which an application for recovery has been filed before the Debts Recovery Tribunal prior to the date of publication of this notification, that is to say, the 6th day of September, 2018", occurring at the end, the words, figures and letters “and to debts in respect of which an application for recovery has been filed before the Debts Recovery Tribunal between the period, that is to say, 26th September, 2018 to 30th June, 2019” shall be inserted. [F. No. 3/4/2018-DRT] SUDHIR SHYAM, Economic Advisor Note: The principal notification was published in the Gazette of India, Extraordinary Part II section 3 sub-section (ii) dated the 06th September, 2018 and was subsequently amended vide number S.O. 2478 (E) dated the 11th July, 2019. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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