https://www.taxtmi.com/caselaws?id=325417 Section 17 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 applies only where a bank or financial institution seeks recovery of a debt due to itself; a debenture trustee suing for amounts payable to debenture holders does not fall within that exclusive DRT jurisdiction. The trustee's statutory duties to protect debenture holders and enforce security do not convert the claim into a debt owed to the bank. The later decision in Alpha and Omega was distinguished because it concerned a statutory assignee pursuing its own debt, whereas trustee-based claims remain outside section 17. Krishna Filaments therefore continues to apply to such suits. en-us Mon, 07 Mar 2016 00:00:00 +0530 Sat, 19 Mar 2016 08:48:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325417 Section 17 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 applies only where a bank or financial institution seeks recovery of a debt due to itself; a debenture trustee suing for amounts payable to debenture holders does not fall within that exclusive DRT jurisdiction. The trustee's statutory duties to protect debenture holders and enforce security do not convert the claim into a debt owed to the bank. The later decision in Alpha and Omega was distinguished because it concerned a statutory assignee pursuing its own debt, whereas trustee-based claims remain outside section 17. Krishna Filaments therefore continues to apply to such suits. Case-Laws Indian Laws Mon, 07 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325417