According to the Preamble to the Recovery of Debts and Bankruptcy Act, 1993, the Tribunals established…
The Act establishes specialised debt-recovery adjudication for banks and financial institutions. Those Tribunals do not thereby become arbitral tribunals, criminal courts or…
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According to the Preamble to the Recovery of Debts and Bankruptcy Act, 1993, the Tribunals established under the Act are primarily intended for:
Answer and explanation
Correct answer B
The Act establishes specialised debt-recovery adjudication for banks and financial institutions. Those Tribunals do not thereby become arbitral tribunals, criminal courts or general consumer-service forums. The amended long title also recognises individual and partnership insolvency and bankruptcy.