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Pravesh DabasAdvocate Delhi, India

06 · Banking, Finance & Insurance

Debt Recovery Tribunal (DRT) Matters

The Debt Recovery Tribunal hears recovery claims by banks and financial institutions, and appeals by borrowers against enforcement of security.

The Debt Recovery Tribunal hears recovery claims by banks and financial institutions.

What this covers

  1. 01Original applications for recovery by banks
  2. 02Defences and counter-claims by borrowers and guarantors
  3. 03Applications against SARFAESI measures
  4. 04Recovery certificates and recovery proceedings
  5. 05Appeals to the Debt Recovery Appellate Tribunal

How it generally works

Debt Recovery Tribunals are set up under the Recovery of Debts and Bankruptcy Act, 1993 and hear claims by banks and financial institutions of twenty lakh rupees and above.

After hearing both sides, the tribunal issues a recovery certificate, which a recovery officer enforces.

Appeals lie to the Debt Recovery Appellate Tribunal, usually on deposit of a portion of the amount due.