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of <h1>Amendments to Debt Recovery Act Align with Insolvency Code 2016, Establishing Tribunals for Insolvency Cases</h1> The amendments to the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, incorporate provisions related to insolvency resolution and bankruptcy for individuals and partnership firms. The amendments include changes to the Act's title and various sections to align with the Insolvency and Bankruptcy Code, 2016. New provisions establish Debts Recovery Tribunals and Appellate Tribunals to handle jurisdiction and appeals under the Code. The amendments specify the tribunals' powers and authority, including circuit sittings in district headquarters and handling applications as per the Insolvency and Bankruptcy Code, 2016.
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