Notification No. S.O 4312(E) dtd 6.9.18 - Increase in Pecuniary Jurisdiction of DRTs from Rs. 10 Lakhs to Rs. 20 Lakhs under the RDDBFI Act, 1993

$1123 90 3°10 11310—33004/99 REGD. NO. D. L.—33004/99 Elle (Suzette of Judie: WW EXTRAORDINARY 9:111 11—19133 3—39—19133 (ii) UTFW 13 WW PUBLISHED BY AUTHORITY fififiarm (WWW 31W fifiwfififiw, 2018 WWW??? [Wit 3/4/2018—33FW] 5208 GI/18 (1) MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 6th September, 2018 8.0. 4312(E).—Whereas, sub—section (4) of section 1 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 ( 51 of 1993) provides that the provisions of the said Act shall not apply where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is less than ten 1akh rupees or such other amount, being not less than one 1akh rupees, as the Central Government may, by notification, specify; And whereas, the Central Government has considered it necessary to raise the pecuniary limit from ten 1akh rupees to twenty 1akh rupees for filing application for recovery of debts in the Debts Recovery Tribunals by such banks and financial institutions. Now therefore, in exercise of the powers conferred by sub—section (4) of section 1 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Central Government hereby specifies that the provisions of the said Act shall not apply where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is less than twenty 1akh rupees. SUCHINDRA MISRA, Jt. Secy. and Published by the Controller of Publications, Delhi-110054. Digitally signed by ALOK KUMAR