The RDIBC Act shall not apply ........

Professional Legal Knowledge DRT act

The RDIBC Act shall not apply:

Where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is less than twenty lakh rupees.

Where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is more than five lakh rupees.

Where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is less than five lakh rupees.

Where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is more than ten lakh rupees.

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Explanation:

The RDIBC Act shall not apply where the amount of debt due to any bank or financial institution or to a consortium of banks or financial institutions is less than twenty lakh rupees.