Procedure of DRT

Question

Procedure of DRT

Accepted Answer

DRT is a legal forum for resolving disputes related to debt recovery.

DRT stands for Debt Recovery Tribunal.
It was established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
It has jurisdiction over cases related to recovery of debts from banks and financial institutions.
The procedure for filing a case in DRT involves submitting a written application along with relevant documents and paying the required fee.
The case is then heard by a Presiding Officer who has the power to pass orders for recovery of debt.
Appeals against the orders of DRT can be filed in Debt Recovery Appellate Tribunal (DRAT) and further in the Supreme Court.
The procedure for DRT is governed by the Recovery of Debts Due to Banks and Financial Institutions Rules, 1993.

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