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

Government Announces Merger Of Bank of Baroda, Dena Bank And Vijaya Bank Much awaited. Without much ado. Who will miss these banks, even in short run?





Minimum pecuniary jurisdiction for approaching DRTs has been increased to Rs. 20 lakhs.





Mr. Raghu Ram Rajaan, the former RBI Governor has blamed the Banks of corruption and inefficiency for the huge NPAs.





A tough message for borrowers with a proclivity for mindless litigations. Bombay HC imposes costs of Rs. 50 lakhs for frivolous litigation. Smart litigation is different from mindless litigation.



RBI cautions public about Fake web site mimicking like RBI to steal critical data from customers.



What is NPA?

NPA stands for non-performing assets, a  word coined by the bankers to the refer to   accounts which have not serviced their interest component for a defined period.   The time period for an account to be declared as non-performing asset varies from PSU banks to private banks to NBFCs.

 

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NPA norms relaxed for GST registered MSN me units

The Reserve Bank Of India has relaxed  the norms for classification of accounts as Non-Performing Assets in respect of GST registered MSME units.   The time period is  now is 180 days instead of earlier being 90/120 days of delinquency in respect of loans from banks and NBFCs.

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Relief for Bank Customer under Consumer Protection Act

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Vishal N. Kalsaria Versus Bank of India & Ors.

SARFAESI Act is not superior to State Rent Control Acts

SARFAESI Act cannot be used to bulldoze a tenant out of a mortgaged property without the due process of law under the  local  rent control Laws.

Tenancy created even after mortgage is entitled to same protection as a tenancy before the mortgage.; Tenancy under un-registered agreement is equally valid;
 

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Ultra Tech Cement Ltd. versus Rakesh Kumar Singh & Anr.

Decision by Supreme Court of India

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Bharat International & Anr Vs. State Bank of Travancore & Anr.

Consumer Disputes Redressal Forum can hear a complaint of a person, against whom the DRT has passed an order of Recovery

The issue before the National Consumer Disputes Redressal Commission is different from the one before the Debt Recovery Tribunal

The Consumer Dispute Redressal Forums cannot hear complaints on the amounts decreed by the Debt Recovery Tribunals.

Read Full Judgment...




Hot Trending Topics


Don’t litigate as a reflex action. Plan it properly

Caught with its pants down, HSBC Bank agrees to pays $ 101 million to ward off criminal proceedings.

Do you have a dedicated lawyer on call? Try this scheme.

Do you know tenants cannot be evicted under the SARFAESI Act?








More Articles from our Archive

To challenge an Auction follow the procedure

Allegations of embezzlement should not be made loosely

No special clauses for tenants in DRT Act

OTS scheme can be directed where borrower is sincere.

A compromise deed should be a proper document
FAQ on ADJOURNMENT

1. What are adjournments before the Debts Recovery Tribunal?
2. What is the difference between adjournment and condonation of delay in the Debts Recovery Tribunal?
3. What is the difference between adjournment and asking more time in the Debts Recovery Tribunal?
4. How many times can a person seek adjournment before the Debts Recovery Tribunal?
5. How to seek adjournment before the Debts Recovery Tribunal?

Read Full FAQ...