The Centre is considering amendments to the Recovery of Debt and Bankruptcy Act in the Budget to allow some Debt Recovery Tribunals to focus only on high-value cases.
The famous 'tareekh pe tareekh' dialogue from the Hindi movie Damini captures where we are now.
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
'We are talking about boosters these days. Booster vaccines, boosters for the economy. We read somewhere that the current budget is a booster for the nation's economy. But where is booster for the judiciary?' the high court asked.
Lenders send 'SOS' to the finance ministry on the tardy decision making and pile-up of cases at the Debt Recovery Tribunals and its appellate forum the Debt Recovery Appellate Tribunal.
A bench headed by Chief Justice T S Thakur also sought a response on the question as to whether the recovery tribunals are equipped to decide the loan recovery cases within a fixed time frame, stipulated under the law.
'She didn't eat beans, disliked spinach, abhorred peas, but mostly she wouldn't eat things the name of which she didn't know, which seemed to consist of the entire vegetable kingdom.' 'For some reason, she finds even dahi unpalatable,' sighs Kishore Singh.
According to a government reply in Lok Sabha, as on June 30, 2017, there were about 109,598 cases pending across debts recovery tribunals, with recovery dues of Rs 635,500 crore.
The new allegations take the total number of his accusers to 12.
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