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Unpaid security deposit to acquire leasehold premises is not debt u/s 2(g) of the RDDBFI Act

January 22, 2019[2019] 101 200 (Bombay)

FEMA & BANKING: Unpaid security deposit for acquiring licensed premises is not a 'debt' within meaning of section 2(g) and, therefore, proceedings instituted under section 17 by Bank for recovery of said amount would not be maintainable

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