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  2. Bare Acts
  3. BAD Act
  4. Section 15

BAD Act

Overview
  • 1Short title, extent and commencement
  • 2Definitions
  • 3Establishment of Debt Settlement Boards
  • 4Power of State Government to cancel appointments of Chairman and members of, or to dissolve, a Board
  • 5Delegation of power to Commissioner
  • 6Tenure of office
  • 7State Government may invest Boards with certain powers
  • 8Application for settlement of debts
  • 9Application for settlement of joint debts
  • 10Form and verification of application
  • 11Statement of debts to be included in application
  • 12Procedure on receipt of application
  • 13Further statements of debts
  • 13A[ Notice to persons in possession under a creditor. - [Section 13A inserted by Bengal Act 8 of 1940.]
  • 14Production of documents
  • 15Board to attempt amicable settlement
  • 16Power of Board to require attendance of persons and production of documents and to receive evidence
  • 17Dismissal of applications
  • 18Determination of amounts of debts
  • 19Settlement of debts
Previous: Section 14Next: Section 16
BAD Act 15

Section 15 · Board to attempt amicable settlement

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Subject to any rules made under this Act, the Board shall call upon the debtor and each creditor to explain his case regarding each debt, and shall use its best endeavours to induce them to arrive at an amicable settlement.

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Previous: Section 14Next: Section 16
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