law: Recovery of Debts Due to Banks and Financial Institutions Act, 1993 
  2. Definitions 
  In this Act, unless the context otherwise requires,- 
  (a) "Appellate Tribunal" means an Appellate Tribunal
  
  established under sub-section (1) of section 8;
  (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;
  (d) "bank" means- 
  (i) a banking company;
  (ii) a corresponding new bank;
  (iii) State Bank of India;
  (iv) a subsidiary bank; or
  (v) a Regional Rural Bank;
  (e) "banking company" shall have the meaning assigned
  
  to it in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of
  
  1949);
   1  [(ea) "Chairperson" means a Chairperson of an
  
  Appellate Tribunal appointed under section 9;]
  (f) "corresponding new bank" shall have the meaning
  
  assigned to it in clause (da) of section 5 of the Banking Regulation Act, 1949
  
  (10 of 1949);
   2  [(g) "debt" means any liability (inclusive of
  
  interest) which is claimed as due from any person by a bank or a financial
  
  institution or by a consortium of banks or financial institutions during the
  
  course of any business activity undertaken by the bank or the financial
  
  institution or the consortium under any law for the time being in force, in
  
  cash or otherwise, whether secured or unsecured, or assigned, or whether
  
  payable under a decree or order of any civil court or any arbitration award or
  
  otherwise or under a mortgage and subsisting on, and legally recoverable on,
  
  the date of the application.]
  (h) "financial institution" means- 
  (i) a public financial institution within the
  
  meaning of section 4A of the Companies Act, 1956 (1 of 1956);
  (ii) such other institution as the Central
  
  Government may, having regard to its business activity and the area of its
  
  operation in India, by notification, specify;
  (i) "notification" means a notification published in
  
  the Official Gazette;
  (j) "prescribed" means prescribed by rules made under
  
  this Act;
   1  [ja) "Presiding Officer" means the Presiding
  
  Officer of the Debts Recovery Tribunal appointed under sub-section (1) of
  
  section 4;]
  (k) "Recovery Officer" means a Recovery Officer
  
  appointed by the Central Government for each Tribunal under sub-section (1) of
  
  section 7;
  (l) "Regional Rural Bank" means a Regional Rural Bank
  
  established under section 3 of the Regional Rural Banks Act, 1976 (21 of 1976);
  
  
  (m) "State Bank of India" means the State Bank of
  
  India constituted under section 3 of the State Bank of India Act, 1955 (23 of
  
  1955);
  (n) "subsidiary bank" shall have the meaning assigned
  
  to it in clause (k) of section 2 of the State Bank of India (Subsidiary Banks)
  
  Act, 1959 (38 of 1959);
  (o) "Tribunal" means the Tribunal established under
  
  sub-section (1) of section 3.
  Comment  : In the case in hand, there cannot be any
  
  dispute that the expression 'debt' has to be given the widest amplitude to mean
  
  any liability which is alleged as due from any person by a bank during the
  
  course of any business activity undertaken by the bank either in cash or
  
  otherwise, whether secured or unsecured, whether payable under a decree or
  
  order of any Court or otherwise and legally recoverable on the date of the
  
  application. In ascertaining the question whether any particular claim of any
  
  bank or financial institution would come within the purview of the tribunal
  
  created under the Act, it is imperative that the entire averments made by the
  
  plaintiff in the plaint have to be looked into and then find out whether
  
  notwithstanding the specially created tribunal having been constituted, the
  
  averments are such that it is possible to hold that the jurisdiction of such
  
  tribunal is ousted. United Bank of India v. Debts Recovery Tribunal AIR 1999
  
  SUPREME COURT 1381.