1. Short title, extent, commencement and application .
(1)This Act may be called the Recovery
of Debts 2[and Bankruptcy ] Act, 1993.
(2)It extends to the whole of India except the State of Jammu and Kashmir *.
(3)It shall be deemed to have come into force on the 24th day of June, 1993.
(4)3[Save as otherwise provided, the provisions of this Code] 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 ten lakh rupees or such other amount, being not less than one lakh rupees, as the Central Government
may, by notification, specify.
(b)“application” means an application made to a Tribunal under section 19;
(c)“appointed day”, in relation to a Tribunal or an Appellate Tribunal, means the date on which
such Tribunal is established under sub -section (1) of section 3 or, as the case may be, sub -section ( 1)
of section 8;