Laws & Procedure of
Debts Recovery Tribunal
In India
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Frequently Asked Questions
on/before
Debts Recovery Tribunals
Important Orders
on NPAs
Supreme Court over turns orders of Debts Recovery Appellate Tribunal / Debts Recovery Tribunal (DRAT/ DRT). Says falling interest rates should be taken note off. Grants only 9% interest pendent lite.
The Debt Recovery Tribunals (DRT) should carefully examine the mortgages and see if the mortagor had the right to mortgage the property at all or not.
Simultaneous Proceedings can go on before Banking Ombudsman as well as before the Debts Recovery Tribunal Simultaneous proceedings can go on
In transferred matters the Debts Recovery Tribunal may continue with the proceedings from any stage it may deem fit
A cooperative Bank is not required to go before the Debts Recovery Tribunals for the recovery of its dues from its members.
Auctioning authorities like the Debts Recovery Tribunals should ensure that the best price was recovered for the property.
Where the State claims first charge over a property which is mortgaged to a Bank, the Debts Recovery Tribunal is the competent court to decide whether the Bank has right over a mortagaed property or the State.
Banks can invoke SRFAESI Act even when their cases are pending before the a Debts Recvovery Tribunal.
On transfer of case from civil court, cross examination and recording of evidence already done will stand before the Debts Recovery Tribunal.
The Debts Recovery Tribunal can order sale of properties even though a Recovery Certificate is yet to be issued.
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