A court is required to ascertain the legislative purpose of the Recovery of Debts and Bankruptcy Act,…
The long title includes specialised adjudication and recovery of institutional debts, alongside its added reference to individual and partnership insolvency and bankruptcy.…
Choose your answer
A court is required to ascertain the legislative purpose of the Recovery of Debts and Bankruptcy Act, 1993 solely from its Preamble. Which of the following would be the correct conclusion?
Answer and explanation
Correct answer B
The long title includes specialised adjudication and recovery of institutional debts, alongside its added reference to individual and partnership insolvency and bankruptcy. It neither regulates all banking operations nor covers every insolvency process or secured transaction.