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BankDRT:: Debts Recovery Tribunal ( DRT, DRT Auctions, DRT Act, DRT Rules) SRFAESI Act
Breaking News
Consumer forum asks ICICI Bank to pay Rs 75,000 to complainant.


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


ARCIL eyes to snap up Rs. 1.3 k Cr worth of NPAs in FY 2013. Will it succeed?


Only so much of asset should sold as is necessary to repay the debt. Sale of excess assets is fatal to the auction : SC


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


RBI cancels license of Ghaziabad Cooperative Bank leaving gaping holes in bank licensing and monitoring policy.


Jurisdiction of a Recovery Officer - cannot transgress that of the DRT.

The territorial jurisdiction of a Recovery Officer of a Debt Recovery Tribunal (DRT) cannot go beyond the territorial jurisdiction of the DRT. The Recovery Officer of a DRT should limit his operations within the territorial limits of the DRT with which he is attached. In case the Recovery Certificate entrusted to him refers to a property that is outside the territorial jurisdiction of the DRT, then the Recovery Officer should return the Recovery Certificate to the Presiding Officer for passing suitable orders.

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

An order of the Debts Recovery Tribunal directing Lessee to pay an higher amount than what the lessee had agreed to pay to the lessor-debtor of the Bank is legally invalid. The lessee’s liability to the Bank cannot exceed the amount agreed to in the lease agreement.

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The Debt Recovery Tribunal cannot re-open, or re-examine, or re-call an order already passed by the High Court earlier.

The language of S. 22(g) of the Recovery of Debts Due to Banks and Financial Institutions Act, does not empower a Debt Recovery Tribunal to re-open, or re-examine, or re-call an order already passed by the High Court. Where the High Court has already disposed off a suit ex-parte, nothing remains to be transferred. Only if the High Court restores the case back to the records in the first place can the question of transfer of the case to the Debt Recovery Tribunal may arise.

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Allahabad Bank V/s Canara Bank

Debt Recovery Tribunals have excluseive jurisdiction to hear claims of Banks & Financial Institutions.The jurisdiction of the Company Courts are ousted.The Banks and FIs need not seek permision of the Company Courts to file applications before the Debt Recovery Tribunals against a company under liquidation.The Recovery of Debts Due to Banks & Financial Institutions Act over rides the Companies Act Recovery Officer is competent to decide workmen's due on prorata basis to the extent to liability of Banks and FI.

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Amit Kumar Singh vs. Union Bank of India & Others

Writ Jurisdiction cannot be invoked where alternative remedy in the form of appeal to DRAT  is available.  However, time was granted to withdraw the Writ appeal  and file it before the DRAT.

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Ashok Jain vs. Mahesh Mittal & Others
A person claiming to be a tenant of the borrower must get a suitable order from the court of competent jurisdiction and not seek an order from the DRT.
The DRT and the Recovery Officer do not have any powers under the RDDBI Act to decide tenancy and ownership issues.
Right of possession of auction purchaser should be insisted first and the object should move the appropriate court for

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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.

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More Articles from our Archive

Small industrialists miss out CGTSI benefits due to poor awareness.

First right of a defendant under SRFAESIA- to be replied to by the Bank.

A Borrower has no say in the sale of NPAs.

A sad commentary on the functioning of the Debts Recovery Tribunal.

When setting aside a auction – sale, grant of interest to auction purchaser is the discretion of the Court.
FAQ on DEBTS RECOVERY TRIBUNAL

1. Can the Debts Recovery Tribunal hear claim for damages against the Bank?
2. Can the issue of breach of contract be raised before the Debts Recovery Tribunal?
3. It is said that Debts Recovery Tribunals should hear all the points against the claim of the bank in the form of Counter Claim. Can the point of deficiency of service be also raised before the Debts Recovery Tribunal?
4. How are consumer courts different from Debts Recovery Tribunal?
5. How are civil courts different from the Debts Recovery Tribunal?

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