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This document outlines the procedures and provisions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, including the rights of secured
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What is debt recovery tribunal?
Debt Recovery Tribunal (DRT) is a special tribunal established in India to resolve disputes related to the recovery of non-performing assets (NPAs) of banks and financial institutions.
Who is required to file debt recovery tribunal?
Banks and financial institutions are required to file a debt recovery tribunal in cases where they need to recover money from defaulting borrowers.
How to fill out debt recovery tribunal?
To file a debt recovery tribunal, banks and financial institutions need to submit a petition containing details of the borrower, the outstanding debt, and the reasons for default along with supporting documentation.
What is the purpose of debt recovery tribunal?
The purpose of the debt recovery tribunal is to facilitate speedy resolution of disputes between banks/financial institutions and defaulting borrowers, ensuring efficient recovery of outstanding debts.
What information must be reported on debt recovery tribunal?
The debt recovery tribunal requires information such as details of the borrower, the amount of outstanding debt, the reasons for default, supporting documents, and any relevant legal or financial information.
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