The Institute of Company Secretaries of India (ICSI) has requested the Ministry of Finance to amend Section 23 of the Recovery of Debts and Bankruptcy Act, 1993 to expressly authorise Company Secretaries in Practice (PCS) to represent parties before Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs). In its letter dated 19 June 2026, ICSI highlighted that debt recovery matters increasingly involve complex issues such as corporate governance, loan documentation, security creation, charge registration, corporate restructuring, stressed asset resolution, and insolvency proceedings, areas in which PCS possess specialised expertise. The Institute also pointed out that Company Secretaries are already recognised to appear before forums including the NCLT, NCLAT, Insolvency and Bankruptcy Code proceedings, Competition Commission of India, Securities Appellate Tribunal, RERA authorities, and various tax and regulatory bodies. ICSI submitted that extending similar recognition before DRTs and DRATs would strengthen the debt recovery framework, improve access to justice, enhance professional participation, and support efficient adjudication.
THE INSTITUTE OF Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
CS Pawan G. Chandak
PRESIDENT
G&CL: MoF: June: 2026
19th June 2026
Shri Sanjay Lohiya
Hon’ble Secretary
Department of Financial Services
Ministry of Finance
Jeevan Deep Building
Sansad Mar
New Delhi — 110001
Subject: Request for authorising Company Secretaries in Practice to appear before Debt Recovery Tribunal (DRT) and Debt Recovery Appellate Tribunal (DRAT) Ref: ICSI Letter No. ICSI: PFP: 2019 dated August 19, 2019
Respected Sir,
The Institute of Company Secretaries of India (ICSI) is a premier professional body established under an Act of Parliament, namely the Company Secretaries Act, 1980. It functions under the jurisdiction of the Ministry of Corporate Affairs and is committed to regulating and developing the profession of Company Secretaries in India. With a strong national and global presence, ICSI caters to over 81,000 members and 250,000 students.
ICSI Submission:
At present, representation before the Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) under Section 23 of the Recovery of Debts and Bankruptcy Act, 1993 is primarily restricted to legal practitioners and authorised officers. Despite possessing specialised expertise in these areas, Company Secretaries in Practice (PCS) are presently not recognised as authorised representatives under the said provision.
It is respectfully submitted that the Government may kindly consider amending the relevant provisions of the Recovery of Debts and Bankruptcy Act, 1993 to expressly authorise Company Secretaries in Practice to appear before DRTs and DRATs.
Justification:
A.) As Over the years, the scope and complexity of financial disputes, debt recovery matters, insolvency proceedings, and restructuring cases have increased substantially. The nature of debt recovery proceedings has evolved significantly. These matters increasingly involve complex corporate, financial, and insolvency-related issues, including:
> Corporate structuring and governance
> Loan documentation and security creation
> Charge registration and compliance
> Corporate restructuring and stressed asset resolution
> Insolvency and bankruptcy processes
In this context, Company Secretaries in Practice have emerged as highly competent professionals with specialised expertise in corporate law, banking law, insolvency, restructuring, compliance, and adjudicatory procedures.
B.) Existing Recognition of Company Secretaries:
Company Secretaries are already authorised under various statutes to represent stakeholders before several judicial and quasi-judicial forums, including:
> National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) under Section 432 of the Companies Act, 2013;
> Proceedings under the Insolvency and Bankruptcy Code, 2016 under Section 207 of the IBC;
> Competition Commission of India (CCI) under section 35 of The Competition Act, 2002;
> Securities Appellate Tribunal (SAl’ under Section 23C, Explanation (b) of The Depositories Act, 1996);
> RERA Authorities and Appellate Tribunals under section 56 of the Real Estate (Regulation and Development) Act, 2016;
> Various tax, regulatory and adjudicatory authorities.
This statutory recognition clearly reflects legislative confidence in th professional competence and ethical standards of Company Secretaries.
In view of the above, it is suggested that Company Secretaries in Practice may be included as authorised representatives under Section 23 of the Recovery of Debts and Bankruptcy Act, 1993. Such a progressive measure will strengthen the debt recovery ecosystem by enhancing professional participation, improving access to justice, and supporting efficient adjudication.
We request your kind consideration of this request. We would also be grateful for an opportunity to present this matter in detail at a time convenient to you.
Thanking you,
Yours faithfully
(CS Pawan G. Chandak)
President
The Institute of Company Secretaries of India
