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Debt recovery means the recovery of that money which has been taken by some person as the can also be classified as the whole time or part time and it has been written off or classified as the bad debt recovery. The bad debt recovery mainly produces a loss in the income of the person. 

Contract Act, 1872

  • Fraud (s.17)
  • Misinterpretation (s.18)
  • Contract of indemnity (s.124)
  • Contract of guarantee (s.126)
  • Compensation of loss or breach of contract (s.73)

Negotiable instruments Act, 1881

  • Dishonour by non – acceptance (s.91)
  • Dishonour by non- payment (s. 92)
  • Dishonour of Cheques (s.138)

Arbitration and Conciliation Act, 1996

  • Arbitration Agreement (s.7) – pre-agreed dispute resolution

Indian Penal Code, 1908

  • Criminal breach of trust (s. 405 & 406)
  • Dishonest misappropriation of property (s.403)
  • Cheating (s. 415 & 417)

Insolvency Act, 1909, Provincial Insolvency Act, 1920 and Bankruptcy Code, 2015

  • In case of Bankruptcy or Insolvency

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Act, 2002

  • For recovery by financial institutions

Companies Act, 2013

  • Legal Notice or FIR
  • Money Suit or Criminal Suit or Class Action Suit in Debt Recovery Tribunal, Debt Recovery Appellate Tribunal, High Court or Supreme Court
  • Insolvency Petition
  • Consumer Forum Complaint and Complaint to the Registrar of Companies
  • Alternative Dispute Resolution – Arbitration, Mediation, and Conciliation