what is debt recovery tribunal ?

Question Posted / swathirec

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what is debt recovery tribunal ?..

Answer / baji shaik

The Debts Recovery Tribunals have been established by the
Government of India under an Act of Parliament (Act 51 of
1993) for expeditious adjudication and recovery of debts
due to banks and financial institutions.

Debts Recovery Tribunal is the appellate authority for
appeals filed against the proceedings initiated by secured
creditors under Sub-Section (4) of Section 13 of the
Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act 2002.

Is This Answer Correct ?

31 Yes

8 No

what is debt recovery tribunal ?..

Answer / s balasubramanian

Govt. of India formed DRT (Debt Recovery Tribunal) to speed
up the recovery in the case of Non-performing assets of
Banks, Financial Institutions etc.

It took much time to clear the cases by Court earlier. As
the NPA stake of Banks/FIs went up sharply without any
resolution, DRT was formed to deal with such cases. They
will issue Recovery Certificate once the case is disposed.

Is This Answer Correct ?

22 Yes

9 No

what is debt recovery tribunal ?..

Answer / kanika

kind of court which hear cases only realted to debt(loans)
recovery.

Is This Answer Correct ?

19 Yes

10 No

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