DRAT / DRT
Cause Lists
:: Our Director Legal would be in Bangalore (26 & 27 May 2017). He would be available for consultation and discussion. In case you wish to have a meeting with him kindly contact on +91-9910578612/14. :: Capsule Workshop for Borrowers & Asset Owners in October/ November at Delhi/ Mumbai ::<<>>:: Capsule Workshop for Auction Participants (Basic Course) in October/ November at Delhi/ Mumbai ::
WhatsApp us on:
+91-9968265868
On Auction M&A Options Assets-Wanted Investment-Options Services Judgments Legal Query Event Gallery

Login
User ID
Password

Forgot Password ?
New Visitor
Sign up
Why Sign up?

DRT Laws
DRT Act
DRAT Rules
DRT Rules
DRT Regulations
SARFAESI Act
SARFAESIA Rules
Other Acts
Judgments
Information Desk
RTI
Blog
Forms
Legal FAQs
Auction Rules
Grievance Desk
RBI Notifications
Legal Dictionary
Official Liquidator
Gazette Notifications
Courts & Judiciary
Ombudsman Scheme

Tribunals
DRTs/ DRATs
Holiday List

Cause List
Choose Tribunal


Choose a Bench


Choose Date




BankDRT Workshops
Auction Participants
Asset Owners
Borrowers
Guarantors
Trade Associations
Recovery Officers/ Auction Officers/ Authorized Officers

Services
Legal
Investment
Funding
Due Diligence
Debt Restructuring
Valuation
Asset Advertise
Asset Resolution
M & A
FADS

Group Therapy
Bar Association
MSME Association
Borrowers Association

Subscription
Subscription Fee
Payment Modes

Miscellaneous
Photo Gallery
About us
Join Us
Internship
Publications
Post an Article
Disclaimer
Contact Us


BankDRT:: Debts Recovery Tribunal ( DRT, DRT Auctions, DRT Act, DRT Rules) SRFAESI Act

DRT Siliguri notified and work re-distributed amongst DRTs in Kolkatta and DRT Siliguri





DRT-3 Chandigarh notified and work amongst DRT-1,2 & 3 Chandigarh re-distributed



How will banks benefit from new Ordinance promulgated under the BIC 2016?

The government of India has promulgated a ordinance under the Insolvency and Bankruptcy Code (IBC) 2016 aimed at quick resolution of stressed assets of banks and to balance the interests of other stakeholders. At first look, there is nothing earthshaking or anything extraordinary in the new ordinance. However the business community, the bankers and the consultants are talking animatedly about something big to happen not of the Ordinance. What could then be?

Read Full Article...


Lessons from Pokarna Engineered Stone exiting Corporate Debts Restructuring Scheme

Pokarna Engineered Stone (PES) is reported to have exited the Corporate Debts Restructuring (CDR) Scheme ahead of the schedule as it has been able to generate enough revenues to throw of the yolk set up by the banks.  And herein lies a  lesson for other units who have to deal with banks and cash crunch situations.

Read Full Article...


Electrotherm takes OTS route to come out of its banking woes

Electrotherm has opted for the One Time Settlement (OTS) route to come out of its pernicious litigations with ICICI Bank.  It paid out a sum of Rs.12.50 Crores against an outstanding amount of Rs.55.97 Crores against full and final settlement of all issues.
 

Read Full Article...


Guarantors beware you have no protection before DRTs.

At law guarantors responsibility and liability is more than that of the principle borrower.  But does not mean that we must stop standing as guarntors for our near and dear ones.  Take simple precautions and look after your interests.

Read Full Article...


If a compromise has two portions, lawful and unlawful, the lawful can be enforced and the unlawful ignored.

If a compromise can be easily segregated into two portions, a portion which is lawful and the other which is not as per the law, then portion that is lawful can be enforced and that which is unlawful can be ignored and not enforced.

Read Full Article...


The RBI has powers to define the parameters of NPA

The Supreme Court of India has held that the Reserve Bank (RBI) of India is competent to define what constitutes Non Performing Assets and that is there is nothing un Constitutional in Parliament delegating this power to the RBI.

Read Full Article...




BANK OF NEW YORK MELLON LONDON BRANCH versus ZENITH INFOTECH LIMITED

Acceptance of filings in Registry and its scrutiny is a clerical/ ministerial work. It involves no judicial activity on the part of the Registry, who have no discretionary powers. The Registry works on delegated ministerial powers only. Therefore the Registry cannot reject an application on any ground.

Since SICA has been abolished matters pending before BIFR/ AAFIR would automatically stand transferred to CLT. A matter on remand from the Supreme Court to BIFR from AAFIR would also stand transferred to CLT.

Read Full Judgment...


State Bank of Patiala versus Mukesh Jain & Anr.

Financial jurisdiction of DRT v/s that of Civil Court has to be judged from the provisions of Act under which proceedings have been initiated by the Bank.  If proceedings have been initiated under the SARFAESI Act, the jurisdiction of civil Courts would be ousted if the claim amount is Rs. 2 lakhs or more, whereas, if proceedings are under RDB Act 1993,  the civil courts will have jurisdiction to entertain suits where the claim amount is less than Rs. 10 lakhs.

Read Full Judgment...


Madhu Bajaj (Smt.) vs. Oriental Bank of Commerce

Where the signatures are disputed it is necessary to get them examined with the help of experts.

The judges must not venture to examine and compare the signatures between those of disputed and admitted ones.

Read Full Judgment...


All NPA accounts to be declared Willful defaulters?



Banks race against each other to declare Vijally Mallya as willful defaulter.



United Bank of India declares Vijay Mallya as Willful defaulter.



Other Banks may follow suit and declare Vijay Mallya as Willful defaulter.



Big debate – whether the procedure for declaring a person as a Willful defaulter is judicious, transparent and non arbitrary? Send us your views




More Articles from our Archive

Disputes between Crown and Secured claimants needs adjudication.

Without pre-deposit an appeal cannot be entertained : SC

Borrowers can pursue independent actions against the Lenders: SC

Revenue Recovery Act can be invoked to execute decrees: Kerala High Court

DRT cannot ask the lessee to pay more than the indenture amount.
FAQ on DISCOVERY

1. What is discovery & production of documents before Debts Recovery Tribunal?
2. How is discovery sought before the Debts Recovery Tribunal?
3. What are the provisions in the DRT Act for discovery process before the Debts Recovery Tribunal?
4. When or at what stage can discovery be resorted to before the Debts Recovery Tribunal?
5. How much time is available for filing an reply in the Debts Recovery Tribunal to the discovery process?

Read Full FAQ...