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Debt Recovery Tribunal

Debt Recovery Tribunal:

The Department of Financial Services secretary chaired a conference of heads of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery of Tribunals (DRTs) in New Delhi.

  • The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993.
  • These are established to provide expeditious adjudication and recovery of debts due to Banks and Financial Institutions.
  • At present, 39 Debts Recovery Tribunals (DRTs) and 5 Debts Recovery Appellate Tribunals (DRATs) are functioning across the country.
  • Each DRT and DRAT are headed by a Presiding Officer and a Chairperson respectively.