Price: [price_with_discount]
(as of [price_update_date] – Details)
[ad_1]
One of the most unremitting portents looming large before banks and financial institutions in India is the spiralling growth of bad debts. “Non-performing assets” (NPA) is a terminological inexactitude or covert representation of bad debts carved out by the officialdom covertly admitting the unlikelihood of recovering the bad and doubtful debts. The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 was passed for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions Recovery, in its most extensive sense, is the restoration or vindication of a right existing in a person, by the formal judgment or decree of a comptent court, at his instance and suit, or the obtaining, by such judgment of some right or property which has been taken or withheld from him. But the machinery under the said Act is yet to gather momentum to accomplish the desired object. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, made effective from 21st June, 2002, is another but a stronger legislation to regulate securitisation and reconstruction of financial assets and enforcement of security interest, thereby improving the health of banks and financial institutions by reducing non-performing assets, namely debts and receivables.
ASIN : B0D8ZSXC44
Publisher : COMMERCIAL LAW PUBLISHERS (1 January 2024); 011-43011562
Paperback : 100 pages
Reading age : 18 years and up
Country of Origin : India
Packer : RR BOOKS NEW DELHI
[ad_2]
