Which of the following is NOT expressly mentioned in the Preamble of the Recovery of Debts and…
The Preamble expressly mentions establishing Tribunals and securing expeditious adjudication and recovery of debts due to banks and financial institutions, but it says…
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Which of the following is NOT expressly mentioned in the Preamble of the Recovery of Debts and Bankruptcy Act, 1993?
Answer and explanation
Correct answer D
The Preamble expressly mentions establishing Tribunals and securing expeditious adjudication and recovery of debts due to banks and financial institutions, but it says nothing about regulating banking companies, which falls instead under legislation like the Banking Regulation Act.