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The Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) provides speedy redressal to lenders and borrowers through filing of Original Applications (OAs) in Debts Recovery Tribunals (DRTs) and appeals in Debts Recovery Appellate Tribunals (DRATs).
Jul 18, 2022 · The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993 with the specific objective of providing expeditious adjudication and recovery of debts due to Banks and Financial Institutions.
Debt Recovery Tribunal is a quasi-judicial body formed under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 to facilitate recovery of loans by banks and financial institutions to the customers.
Apr 10, 2020 · Debt Recovery Tribunals (DRTs) in India are specialized tribunals established to facilitate the expeditious adjudication and recovery of debts by banks and financial institutions.
1 day ago · Banks are grappling with a significant backlog of debt collection cases, which will take seven years to complete at the current rate. Over 2 lakh cases are waiting in Debt Recovery Tribunals (DRTs ...
17 hours ago · Between 2017 and 2022, DRTs successfully resolved 145,000 cases, according to the report. To tackle this issue, the government has proposed increasing the capacity of both DRTs and National Company Law Tribunals (NCLTs) in the latest Budget, aiming to bolster the Insolvency and Bankruptcy Code (IBC) and enhance the debt recovery process.
Reserve Bank of India circular on liberalizing the earlier Corporate Debt Restructuring Scheme
