Prime Properties
on Auction !!!!
Click for details.
1st branch of All India Mahila Bank opens today...Best Wishes from Team BankDRT for successful banking.<-----> Presenting Capsule Workshop For Borrowers & Asset Owners on 22.12.2013
Home On Auction Assets-Sale Assets-Wanted Investment-Options Services Judgments Legal Query Contact us

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
Cause Lists
Holiday List

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
Join Us
Publications
Post an Article
Disclaimer
Contact Us


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




KAL cocks a thumb snooks at the banks again!



The all women bank has finally taken wings! How far will it fly?



RBI directs NBFCs to upload mortgage data on to CERSAI web site - but only for post 30-11-2011 mortgages.



It is no longer easy for banks to publish photograhs of defaulters. Courts have started asking tough questions to banks on the issue.



Bankers develop cold feet on raising NPAs levels - tighten lending norms to big ticket borrowers including infra funding.



The RBI has issued fresh guidelines on Corporate Debt Restructuring Scheme



Ex CM & MD of Chennai based Indian Bank, M Gopalakrishnan sentenced to 14 years in prison.





Delhi High Court Holds that SRFAESI Act cannot be used to evict lawfully residing tenants.





Court holds banks claim as attempt at extortion of money from innocent customers. Dismisses application with heavy costs.








Recovery Officer of DRTs should be from the judiciary. Some Recovey Officers of DRTs are not qualified to hold the post: SC








Objection cannot be raised for the first time before DRAT.

Objection to an issue cannot be raised for the first time before DRAT. If a particular statement fact was not opposed before DRT, it cannot be done so before DRAT too.

Read Full Article...


Recovery Officer cannot decide the properties to be attached and sold.

Can the Recovery Officer decide which properties to attach and which not?  No says AP High Court.

Read Full Article...


Auction purchasers beware -Auction Notice under SRFAESI Act should contain mandatory details

Those looking for great buys at the auctions being conducted by Banks and FIs should be careful about the auction notices. The auction notice issued under SRFAESI Act requires certain mandatory information. These are crucial to the very notice itself. Non inclusion of the data in the notice is fatal to the auction itself.

Read Full Article...


Without pre-deposit an appeal cannot be entertained : SC

The Maharashtra Co-operative Societies Act mandates that an appeal can be entertained provided 50% of the debts mentioned in the Recovery Certificate is first deposited with the cooperative Bank. Supreme Court has held that compliance with such mandatory provisions cannot be wished away by some stray explanation.

Read Full Article...


Kolkata High Court strikes down willful defaulter tag

The Kolkata High Court has struck down the tag of ‘willful defaulter’ affixed by a bank on one of hits borrowers. The court held that the procedure adopted for branding the borrower as ‘willful defaulter’ was arbitrary. Earlier, the Debts Recovery Tribunal had done the same.

Read Full Article...


Death of a borrower will not effect proceedings intiated under SRFAESIA

Proceedings once initiated against a borrower under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act (SRAFAESIA) continues un abated even after the death of the original borrower. The lender will however have to bring on record the legal hires of the original borrower. That apart, the lender will have to take the routine legal procedure to prevent multiplicity of proceedings and due procedure.

Read Full Article...


State Bank Of India vs. Gobbs Kay India & Ors.

Decision by High Court of Delhi

Read Full Judgment...


United Bank of India vs. Satyawati Tondon and others
The responsibility of the guarantor to repay the dues is coextensive with that of the principal borrower and the secured creditors has the right proceed against the guarantor without having exhausted his remedies against the principal borrower.
High Courts must not entertain an Writ against SRFAESI proceedings unless the applicant has exhausted his remedies before the Debts Recovery Tribunal.

Read Full Judgment...


Eastern Paper Mills Machinery Pvt. Ltd. & Others vs. State Bank of India & Others

Decision dated  Calcutta High Court

Read Full Judgment...


FAQs on Bank Auctions

Comprehensive 10s and 100s of FAQs

Simple non legal language.

Based on actual Rule position and decisions on various Banks and FIs.

Book Now at lowest price


More Articles from our Archive

Proceedings under SRFAESIA cannot take place when BIFR is seized of the issue.

Costing of suits – Court fees should not be included.

Bank need not reply to representation within a week.

Consent and limitation are no bar for challenging a unlawful compromise

Powers of DRTs are limited where Companies are under liquidation.
FAQ on BANKER’S BOOK OF EVIDENCE ACT

1. Is the Banker’s Book of Evidence Act applicable through out the country?
2. Is the Banker’s Book of Evidence Act applicable to proceedings before the DRTs?
3. Are all Banks covered under the Banker’s Book of Evidence Act?
4. To what kind of proceedings is the Banker’s Book of Evidence Act applicable?
5. What is a Certified copy of Banker’s Book?

Read Full FAQ...


FAQ on DEBT

1. What is the provision of Debt under the Recovery of Debts Due to Banks and Financial Institutions Act?
2. Does the word ?debt? has any special meaning under the DRT Act ? Does the Debts Recovery Tribunal follow different yard sticks to consider different kinds of money owed by people to the Bank?
3. Is a decree pending for execution constitute a debt before the Debts Recovery Tribunal?
4. I am only a guarantor. Can the debt of the original defaulter be held as debt against me before the Debts Recovery Tribunal?
5. I am only one of the guarantors amongst some others. Can the Bank proceed under the DRT Act or SRFAESI Act against me alone leaving the other guarantors untouched?

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.
© 2004-2013