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[27th August, 1993.] An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions 1[,insolvency resolution and bankruptcy of individuals and partnership firms] and for matters connected therewith or incidental thereto.
The Recovery Of Debts And Bankruptcy Act, 1993. An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto.
Apr 10, 2020 · The RDDBFI Act provides speedy redressal to lenders and borrowers through the filing of Original Applications (OAs) in Debts Recovery Tribunals (DRTs) and appeals in Debts Recovery Appellate Tribunals (DRATs).
Nov 30, 2020 · The Committee’s recommendation led to the enactment of Recovery of Debts Due to Banks and Financial Institutions Act (“RDDBFI”) 1993, from which DRTs and DRATs derive their authority to adjudge on debt recovery matters. Since its inception, we have 39 DRTs and 5 DRATs functioning in the country.
Government of India Ministry of Finance Department of Financial Services. DEBTS RECOVERY APPELLATE TRIBUNALS (DRATs) DEBTS RECOVERY TRIBUNALS (DRTs) Click Here To Apply For Proximity Card. Home.
The Debts Recovery Tribunal (Procedure) Rules, 1993. Warning on translation. Get this document in PDF. Print it on a file/printer. Take notes as you read a judgment using our Virtual Legal Assistant and get email alerts whenever a new judgment matches your query (Query Alert Service).
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.
Oct 26, 2023 · Section 17 of the RDDBFI Act empowers Debt Recovery Tribunals (DRTs) to consider and process applications from banks and financial institutions seeking to recover loans. Meanwhile, the Debt Recovery Appellate Tribunal (DRAT) serves as the Appellate Tribunal, with the authority to hear appeals against any decisions made by a DRT under the Act.
INFORMATION RELATED TO DEBT RECOVERY TRIBUNAL SECTION. • Establishment of DRTs/DRATs under the Recovery of Debts due to Banks and Financial Institutions Act, 1993. • Administration of Recovery of Debts and Bankruptcy (RDB) Act, framing or amending rules for implementing of the provisions of the Act.
