The Assam Debt Conciliation Act, 1936
assam · 1937
- S. 2In this Act, unles
- S. 3(1) The [Provincial Government]" may establisi
- S. 4Section 4 allows debtors and creditors to apply to a conciliation board for debt settlement, subject to certain monetary limits.
- S. 5Every application to a Board under seorion 4
- S. 6(1) An application made by a debtor un
- S. 7(1) On receipt of an application under section" the 1l< 0
- S. 8(1) If after examining the debtor, it is, in the opir ing
- S. 9Section 9 requires creditors to submit detailed debt statements and supporting documents to the Board for verification.
- S. 10Section 10 facilitates debt conciliation by having the Board mediate between debtors and creditors to reach a settlement.
- S. 11(1) Subject to any rules prescribed, the Board may a
- S. 12(1) If the creditors
- S. 13(i} Ifa debtor defaults in paying any amount
- S. 14If no amicable settlement is arrived at under sub- d to?io- section (1) of section 12, the Board shall dismiss the appli
- S. 15(I ) Wbere, durir
- S. 16No Civil Court shall ~n le:tam- f
- S. 19A Board may, on an application from any penon interest- Board to f
- S. 21Section 21 suspends civil court proceedings on debts pending conciliation and halts execution of related decrees until agreement terms are fulfilled.
- S. 22In raleulatin/( the peri
- S. 23The members of a Board shall be dr"med to be PllbJic :0 be "'rvant
- S. 24In addition to any powe" Specially conferred by this Act, of 1860
- S. 25(I) All rules shall be ou1tiert to the condition of previous 'ublication
- S. 1908Section 1908 of the Assam Debt Conciliation Act, 1936, outlines how surplus funds are applied to pay off debts and land revenue arrears.