Advocates for Debt Recovery Tribunal

• March 26, 2024
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The Debt Recovery Tribunal (DRT) is a specialized court established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDBFI Act). Its primary function is to provide a speedy and efficient mechanism for the recovery of unpaid debts owed to banks and financial institutions. When borrowers default on loans, resulting in non-performing assets (NPAs), financial institutions can approach the DRT to recover the outstanding dues. The DRT has jurisdiction over cases where the amount of debt exceeds a certain threshold, as specified in the RDDBFI Act. It adjudicates on matters related to debt recovery, foreclosure of security interests, and enforcement of security interests. The tribunal operates independently from regular civil courts and follows its procedures and rules for conducting proceedings. The establishment of DRTs has played a significant role in expediting the resolution of debt-related disputes and reducing the burden on traditional courts. For the best Advocates for Debt Recovery Tribunal in the High Court, consult with Advocate Nagmani Kumar.

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