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of <h1>Stakeholders in insolvency cases advised to use existing laws, not Debt Recovery Tribunals; Section 243 not notified yet.</h1> Stakeholders involved in insolvency cases should approach the appropriate authority or court under existing laws rather than the Debt Recovery Tribunals. The Ministry has noted that some writ petitions claim that The Presidency Towns Insolvency Act, 1909, and The Provincial Insolvency Act, 1920, have been repealed by the Insolvency and Bankruptcy Code, 2016. However, Section 243, which repeals these acts, has not been notified, nor have provisions for individual and partnership insolvency under Part III of the Code. Therefore, existing enactments remain applicable for such cases.
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