Debt Recovery Tribunals, or DRT, are the tribunals established to facilitate the banks and lending institutions in recovering their provided debts and loans from the customers.
We will assist you with Debt Recovery Case, DRAT Case, and all legal help related to Debt Recovery. For all the suffering from false DRT Case, improper recovery, high penalties get help from expert lawyers and advice before you hire take legal action. We will help you following
- Best Advocates for DRT cases
- DRT lawyer for SARFASI case
- SARFAESI Case
- DRAT lawyer for appeal against DRT orders
- Improper recovery
- High Penalty on Debt Recovery
- Mental Harassment on Debt Recovery Case
Sumbit a query to get help on DRT Case
Debt Recovery Tribunals, or DRT, are the tribunals established to facilitate the banks and lending institutions in recovering their provided debts and loans from the customers.
DRAT - Debt Recovery Appellate Tribunal is a tribunal which is established by the government to hear the appeals from the orders of the DRTs in various states.
The SARFAESI Act has simplified the recovery procedure for banks and specified financial institutions for the recovery of secured debt from borrowers. It aims to regulate securitization and reconstruction of financial assets and enforcement of security interest and to provide for a Central Database of security interest created on property rights and for connected matters therewith.
DRT - Powers
The primary function of DRTs is to recover the loaned amount from borrowers which is owed to banks and financial institutions.
The powers of the DRT is restricted to settling down the cases concerning the recovery of the due amount from non-performing assets as affirmed by the banks as per the RBI guidelines. Basically it confers all the powers as vested with the district courts.
Filing a complaint before DRT and DRAT
The powers of the DRT is restricted to settling down the cases concerning the recovery of the due amount from non-performing assets as affirmed by the banks as per the RBI guidelines. Basically it confers all the powers as vested with the district courts.
Determining the value of appeals in DRAT
Rule 8(2) and 9 of DRAT (Procedure) Rules is taken into consideration while determining the value of the appeals filed under the DRAT.
The application form for filing the appeal in DRAT is annexed under Rule 5 of DRAT (Procedure) Rules.
Under section 20(3) of the RDDBFI Act, an appeal has to be filed within 45 days from the date of passing of the orders of DRT
Yes, appeal can be filed after the expiry of limitation period provided by the act under section 20(3) by submitting an application for condonation of delay with requisite fees.
Yes, Section 20 of the RDDBFI Act provides for the same.
The value of the appeal is determined by the suit claim allowed adding interest payable on the suit claim as determined by DRT under section 19 of RDDBFI Act.
According to Section 30 of the act, an appeal against the order of Recovery Tribunal lies before the Presiding Officer concerned. We will help you with filing appeal. Fill out the form above to get in touch or call us directly.
