What is drat in court?
A person or entity aggrieved by orders of the DRT can appeal against its orders to Debt Recovery Appellate Tribunal (DRAT). The DRAT will not entertain the appeal until such person deposits the 75% of the amount of debt so due determined by the DRT.
Who is the head of Drat?
The Allahabad-based DRAT will be headed by Justice Rajesh Dayal Khare, who has served as a former judge of the Allahabad High Court. Justice S Ravi Kumar, a former judge of the Andhra Pradesh High Court, has been appointed as the chairperson of the Chennai-based tribunal.
How many Drat are there in India?
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.
What are debt recovery tribunals?
Debt Recovery Tribunals are Tribunals which facilitate the debt recovery involving banks and other financial institutions with their customers. DRTs can now take cases from banks for disputed loans above Rs 20 Lakhs.
Where does appeal from Drat lies?
As per Section-20 of the RDDBFI Act an appeal will lie only against the order passed by P.O of the Tribunal. An appeal against the order of Recovery officer lies before P.O concerned according to Sec. 30.
Where do I appeal against my drat order?
Appeal to Appellate Tribunal. —(1) Any person aggrieved, by any order made by the Debts Recovery Tribunal under section 17, may prefer an appeal along with such fee, as may be prescribed to an Appellate Tribunal within thirty days from the date of receipt of the order of Debts Recovery Tribunal.
What is difference between DRT and drat?
Under 17 of the RDDBFI Act, DRT has the authority to entertain any application from banks and financial institutions, in order to recover loans for such banks and financial institutions. DRAT being the Appellate Tribunal shall have the jurisdiction to entertain appeals against any order made by a DRT under the Act.
What is the tenure of presiding officer?
– The Presiding Officer of a Tribunal shall hold office for a term of five years from the date on which he enters upon his office or until he attains the age of sixty years, whichever, is earlier.”
What is the jurisdiction of DRT?
The territorial jurisdiction of DRT, Aurangabad(MS), comprises of 12 Districts of Maharashtra, viz. Aurangabad, Ahmednagar, Beed, Dhule, Hingoli, Jalna, Jalgaon, Latur, Nanded, Nandurbar, Osmanabad and Parbhani.
Who can file a case in DRT?
The application shall be filed by the applicant with the Registrar within whose jurisdiction the applicant is functioning as a bank or financial institution, as the case may be, for the time being. Rs. 1,000 for every one lakh, subject to a maximum of Rs. 1,50,000.
How do I appeal on Drat?
Under sub-section (3) of section 20, of the The Recovery of Debts Due to Banks and Financial Institutions Act, 1993, an Appeal has to be filed within 45 days from the date on which a copy of the order aggrieved has been passed or deemed to have been passed by the Tribunal is received.
How much of debt is to be deposited with Drat for making an appeal?
In all cases fifty per cent of the decretal amount i.e. the debt due is to be deposited before the DRAT as a mandatory requirement, but in appropriate cases for reasons to be recorded the deposit of at least twentyfive per cent of the debt due would be permissible, but not entire waiver.
Where is Drat Chennai located?
DRAT, Chennai is presently located on the 7th Floor, Additional Office Building, Shastri Bhawan, Haddows Road, Chennai, 600 006.
What is the jurisdiction of DRAT-Chennai?
*DRAT-Chennai has jurisdiction to transfer cases pending in one DRT to another DRT within the Southern Region. There are nine DRTs functioning in the Southern Region in India.
Which are the DRTS in India?
DRTs at Mumbai (1, 2, 3), DRTs at Ahmedabad (1,2), DRT Aurangabad, DRT Pune, DRT Nagpur. The e-DRT project has been implemented in all DRTs and DRATs.