https://www.taxtmi.com/caselaws?id=374207 The expression "debt" under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 must be read in light of the statute's limited banking-recovery scheme, and cannot be extended to every claim by a bank. A claim for refund of a security deposit paid for licensed premises was held to fall outside Section 2(g), because it was not a liability of the kind contemplated for expeditious recovery under the Act. Once the claim was outside that definition, the Debt Recovery Tribunal had no jurisdiction to entertain the proceedings, and the orders returning the original application and affirming that view were held to be legal, valid and proper. en-us Fri, 19 Oct 2018 00:00:00 +0530 Tue, 29 Jan 2019 07:23:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374207 The expression "debt" under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 must be read in light of the statute's limited banking-recovery scheme, and cannot be extended to every claim by a bank. A claim for refund of a security deposit paid for licensed premises was held to fall outside Section 2(g), because it was not a liability of the kind contemplated for expeditious recovery under the Act. Once the claim was outside that definition, the Debt Recovery Tribunal had no jurisdiction to entertain the proceedings, and the orders returning the original application and affirming that view were held to be legal, valid and proper. Case-Laws Indian Laws Fri, 19 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374207