In exercise of the powers conferred by section 3 of the Recovery of Debts and Bankruptcy Act

## Report on Amendment to the Recovery of Debts and Bankruptcy Act, 1993 **1. Executive Summary:** This report analyzes a notification issued by the Ministry of Finance, Department of Financial Services, amending the Recovery of Debts and Bankruptcy Act, 1993. The core purpose of this amendment, based on the provided text, is to change the location of the Debts Recovery Tribunal (DRT) in Pune. The key finding is that the amendment specifies a new location for the DRT Pune, effective April 1, 2021. This change likely aims to improve accessibility or operational efficiency. **2. Introduction:** This report aims to provide an informative overview of an amendment to the Recovery of Debts and Bankruptcy Act, 1993, as detailed in the provided notification. The analysis focuses on the specifics of the amendment related to the location of the Debts Recovery Tribunal (DRT) in Pune, drawing solely from the information contained within the provided document. **3. Policy Overview:** * **Amendment To:** Recovery of Debts and Bankruptcy Act, 1993. * **Core Objective(s):** As inferred from the text, the primary objective of *this specific amendment* is to officially change the physical location of the Debts Recovery Tribunal, Pune, to a new specified address. **4. Background and Rationale:** The provided text does not explicitly state the reasons for relocating the DRT, Pune. However, we can infer that the rationale behind this amendment likely involves improving the Tribunal's operational efficiency, accessibility for stakeholders, or addressing logistical constraints at the previous location. A change in location suggests the previous location was inadequate for some reason. **5. Key Provisions / Changes:** This is an amendment to the Recovery of Debts and Bankruptcy Act, 1993. The core change introduced by this amendment is the relocation of the Debts Recovery Tribunal, Pune. * **Specific Part of Original Policy Changed:** This amendment alters the information regarding the official location of the DRT, Pune, as it was previously defined under the Recovery of Debts and Bankruptcy Act, 1993 and subsequent notifications. * **New Rule/Provision:** The notification specifies that, effective April 1, 2021, the Debts Recovery Tribunal, Pune, will function at the following location: Kakade Biz Icon Building 411042 Shivajinagar, Pune-411005. * **Difference/Effect of Change:** The amendment legally mandates that all official business and proceedings of the DRT, Pune, will now be conducted at the new Shivajinagar address. This impacts anyone who needs to physically access the tribunal. **6. Target Audience and Stakeholders:** The target audience and stakeholders directly affected by this amendment are: * Individuals and businesses involved in debt recovery proceedings within the jurisdiction of the Debts Recovery Tribunal, Pune. * Legal professionals representing parties in these proceedings. * Employees and staff of the Debts Recovery Tribunal, Pune. * Banks and financial institutions pursuing debt recovery cases through the DRT. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Finance, Department of Financial Services, is responsible for issuing the notification and enacting the change. The Debts Recovery Tribunal, Pune, is responsible for physically relocating and continuing its operations at the new location. * **Timelines/Procedures:** The amendment explicitly states that the change is effective from April 1, 2021. This suggests that the relocation process should have been completed by that date. No further procedures are outlined in the provided text. The date indicates that the move has already happened. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this specific change is a smoother operation of the Debt Recovery Tribunal at the new location in Pune. The relocation could offer many practical benefits such as being closer to public transportation hubs or within other commercially important areas. It will likely cause at least a temporary disruption of service while the relocation and staff training are accomplished. The expectation would be that this investment makes for a better service in the future. **9. Conclusion:** The notification represents a targeted amendment to the Recovery of Debts and Bankruptcy Act, 1993, specifically concerning the relocation of the Debts Recovery Tribunal, Pune. The amendment aims to improve the functioning of the DRT. While the exact reasons for the relocation are not explicitly stated, the change signifies an effort to optimize the DRT's operations. Understanding this location change is crucial for all stakeholders involved in debt recovery processes within the Pune jurisdiction.

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