Appeals against orders passed by Debts Recovery Tribunal (DRT) lie before Debts Recovery Appellate Tribunal (DRAT). There five Debts Recovery Appellate Tribunal (DRATs) located in the country. One Debts Recovery Appellate Tribunal (DRAT) is located each at Delhi, Allahabad, Mumbai, Chennai and Kolkatta. A Debts Recovery Appellate Tribunal (DRAT) conducts circuit sittings in different cities where Debts Recovery Tribunal (DRTs) are located over which it has appellate jurisdiction.
There are a number of States that do not have a Debts Recovery Tribunal. The Banks & Financial Institutions and other parties in these States have to go to Debts Recovery Tribunal located in other states having jurisdiction over there area. Thus the territorial jurisdiction of some Debts Recovery Tribunal is very vast. For example, the Debts Recovery Tribunal located in Guwahati has jurisdiction over all the seven North Eastern States. Similarly, the territorial jurisdiction of the Debts Recovery Tribunal-2 Chandhigarh too has a very wide jurisdiction over the States of Punjab, Himachal and Harayana, Chandhigarh.
Each Debts Recovery Tribunal (DRT) is presided over by a Presiding Officer. The Presiding Officer is generally equavalent to the rank of Dist. & Sessions Judge. A Presiding Officer of a Debts Recovery Tribunal is assisted by a number of officers of other ranks, but none of them need necessarily have a judicial background. Therefore, the Presiding Officer of a Debts Recovery Tribunal is the sole judicial authority to hear and pass any judicial order.
Each Debts Recovery Tribunal has two Recovery Officers. The work amongst the Recovery Officers of a Debts Recovery Tribunal (DRT) is allocated by the Presiding Officer of the Tribunal. Though the Recovery Officer of the Tribunal need not be a judicial Officer, but the orders passed by a Recovery Officer are judicial in nature, and are appealable before the Presiding Officer of the Debts Recovery Tribunal (DRT).
The Debts Recovery Tribunal are governed by provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, also popularly called as the RDDBFI Act. Rules have been framed and notified under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
After the enactment of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act any aggrieved person can approach a Debts Recovery Tribunal (DRT). Earlier only Banks were entitled to approach the Debts Recovery Tribunal (DRT).
The Debts Recovery Tribunal (DRT) are fully empowered to pass comprehensive orders and can travel beyond the Civil procedure Code to render complete justice. A Debts Recovery Tribunal (DRT) can hear cross suits, counter claims and allow set offs. However, a Debts Recovery Tribunal (DRT) cannot hear claims of damages or deficiency of services or breach of contract or criminal negligence on the part of the lenders. In addition, a Debts Recovery Tribunal (DRT) cannot express an opinion beyond its domain, or the list pending before it.
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The Debts Recovery Tribunal can appoint Receivers, Commissioners, pass ex-parte orders, ad-interim orders, interim orders apart from powers to Review its own decisions and hear appeals against orders passed by the Recovery Officers of the Tribunal. So, if you seek assistance from advocate lawyers for debt recovery appellate tribunal in Allahabad, approach us anytime.