DRAT / DRT
Cause Lists !!!!
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

Insolvency and Bankruptcy Code 2016 becomes operational.



A default of Rs. 1 lakh can trigger insolvency proceedings by any creditor including operational creditors.



Company/ Assets to handed over to Insolvency Professional who should resolve the claims.

Total time fixed for resolution of debts is 180 days.



Apex Court holds 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





Tenancy created even after mortgage is entitled to same protection as a tenancy before the mortgageities respectively.



DRTs to be become fully on-line

Debts Recovery Tribunals (DRT) are likely to  become fully on-line paying the way for smoother, hazel free and less cumbersome, and perhaps even less costlier.  And DRTs may eventually lead the country in on-line paper less Court Work. But are our lawyers ready for this revolution?

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...


Chief Judicial Magistrate not competent to seize properties under SARFAESI Act.

CJM is not an authority competent to pass orders under section 14 of the SRFAESI Act. The lenders must approach the Chief Metropolitan Magistrate,  and where Chief Metropolitan Magistrate is not there, then the District Magistrate.

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...


Consent and limitation are no bar for challenging a unlawful compromise

A compromise decree which is not in accordance with the law cannot be enforced even if the period of limitation has lapsed and the decree has attained finality, and also, even though it was a consent decree.

Read Full Article...


Procedure for declaring a defaulter as willful defaulter should be scrupulously followed : Calcutta HC

The Calcutta High Court has held that the procedure prescribed by the Reserve Bank of India (RBI)  for declaring a defaulter as a willful defaulter should be scrupulously followed.  Any deviation from the prescribed procedurewill vitiate the entire process for declaring a person as willful defaulter.

Read Full Article...




UCO BANK AND ANR. VERSUS DIPAK DEBBARMA & ORS.
Sale of mortgaged property by a bank is an inseparable and integral part of the business of banking.
 
Section 187 of the Tripura Act of 1960, on the other hand, prohibits the bank from transferring the property which has been mortgaged by a member of a scheduled tribe to any person other than a member of a scheduled tribe. This is a clear restriction on what is permitted by the Act of 2002 for the realisation of amounts due to the bank.
 
The field of encroachment made by the State legislature is in the area of banking. So long there did not exist any parallel Central Act dealing with sale of secured assets and referable to Entry 45 of List I, the State Act, including Section 187, operated validly. However, the moment Parliament stepped in by enacting such a law traceable to Entry 45 and dealing exclusively with activities relating to sale of secured assets, the State law, to the extent that it is inconsistent with the Act of 2002, must give way. The dominant legislation being the Parliamentary legislation, the provisions of the Tripura Act of 1960, pro tanto, (Section 187) would be invalid. 
 

Read Full Judgment...


KSL & INDUSTRIES LTD. Versus M/S ARIHANT THREADS LTD. & ORS.

Every Act has to be interpreted in the context in which it is being sought to be examined.

When the question of revival of sick industries, then SICA in general and Section 22 thereof will prevail over the RDDBFI Act, even though the RDDBFI Act is the latter Act.

Where recovery of debt is the question, then the RDDBFI Act will prevail SICA

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

Presence of a Notary Public is satisfactory

Asset can be sold below the Reserve price also.

MM holds Bank’s claim ‘extortion’

When sick, talk to your bank.

Co-op Banks out of DRT net
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...