In the event of default by the debtors, recovery process can be initiated. Same can be started at National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code (IBC). Under this code any person who supplied goods and services to any debtor and such debtor makes default and any installment due, then the creditors can file petition in NCLT. As recovery time is less and NCLT process very fast, creditor’s obvious choice is NCLT. This law is also helpful for small business. Creditors have authority to initiate process before NCLT for recovery of debt in time bound manner.