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Showing contexts for: debt defined in M/S.Digivision Electronics Ltd vs Indian Bank on 7 July, 2005Matching Fragments
30. However, as regards unsecured assets, in view of Section 13(10) of the Securitisation Act the application before the Debts Recovery Tribunal can continue or a fresh application can be filed in respect of such unsecured assets before the Tribunal. This is because the Securitisation Act deals only with secured assets whereas in view of Section 2(g) of the 1993 Act which defines "debt" to include a liability, whether secured or unsecured, even unsecured debts can be recovered by the Tribunal under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.