Inclusion of pooled investment vehicles expands coverage under debt recovery law to such entities under the Recovery of Debts Act. The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 is amended to insert the words "or a pooled investment vehicle as defined in ... Summary
Inclusion of pooled investment vehicles expands coverage under debt recovery law to such entities under the Recovery of Debts Act.
The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 is amended to insert the words "or a pooled investment vehicle as defined in clause (da) of section 2 of the Securities Contracts (Regulation) Act, 1956" into section 2, clause (g), thereby including pooled investment vehicles within the scope of that clause, with effect from the first day of April, 2021.
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