DRAT / DRT
Cause Lists
:: Capsule Workshop for Borrowers & Asset Owners on 29th October 2017 at 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


Breaking News
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



Impaired Asset & problems for small time borrowers.

After demonetisation and bringing in Benami properties Act, value of real assets have fallen down sharply.  This has worried the Banks as they had granted loans based on value of the assets.  Such assets have been termed as Impaired assets.

Read Full Article...


Fraudsters impersonating as Bank & DRT Officers dupe innocent property buyers! Ideas invited to bring these people to justice!

A number of innocent people anxious to buy  properties at auction being connected by the Debt Recovery Tribunal are being taken for a ride by fraudulent people impersonating as bank officials and/or officials of the DRT.  On the basis of a recent case suggestions/ideas are solicited to bring these unscrupulous persons to justice

Read Full Article...


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...


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...


The DRTs cannot enlarge the demand from what was sought in the S. 13(2) Notice

The notice under section (u/s) 13(2) of the SRFAESI Act is the corner stone of initiating recovery proceedings against a borrower. The DRTs must scrupulously follow what was intended in the original S. 13(2) notice and not enlarge it by adding other accounts.

Read Full Article...


DRAT have powers to condone delays in filing appeal : SC

The Supreme Court has ruled that Debts Recovery Appellate Tribunal (DRAT) have powers to condone delay in filing appeals under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act 2002 thus settling a very irritating question of law.

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...


Gagan Khosla vs. Industrial Finance Corporation of India Ltd.

Provision of Section 10 of the Code of Civil Procedure cannot be applied, and need not be applied to the proceedings before the DRT to stay the proceedings in Debts Recovery Tribunal on the basis that a previously instituted suit is pending before the Civil Court between the same parties.

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

Adjournments before DRTs should be a rarity.

Debt Recovery Tribunal ( DRT ) need not frame issues for cases before them.

Claim will be decreed where defence admits the loan amount -

Stamp duty on auction amount only to be paid: Allahabad HC

Proceedings under SRFAESIA cannot take place when BIFR is seized of the issue.
FAQ on NON PERFORMING ASSETS

1. What is non-performing assets?
2. How are non-performing assets classified?
3. I have a cash-credit account which does not involve any fixed amount to be deposited by any fixed days. Can such a account also be classified as NPA?
4. What is “Out of Order” account?
5. What was the duration of in activity earlier before which the account was classified as NPA?

Read Full FAQ...











Do you see any error in this data?
Alert the web master now !!! 		Best viewed in Mozilla Firefox ver. 3.6 FAQ on DRTS. 1000s of nagging questions answered. Frequently answered Questions on DRTs. Just a click away.
Ⓒ 2004-2017