The Debts Recovery Tribunal (DRT) upholds arrangements of the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 furthermore Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002. Rajendra law office
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Under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 banks approach the Debts Recovery Tribunal (DRT) though, under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002 borrowers, underwriters, and other whatever other individual wronged by any activity of the bank can approach the Debts Recovery Tribunal (DRT).
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Debts Recovery Tribunal are situated the nation over. A few urban areas have more than one Debts Recovery Tribunals. Chennai, Mumbai, Kolkata and New Delhi have three Debts Recovery Tribunals. Ahmedabad and Chandigarh have two Debts Recovery Tribunal (DRT) each. One Debts Recovery Tribunal has been constituted at Aurangabad, Jaipur, Allahabad, Ranchi., Bangalore, Cuttack, Coimbatore, Earnakulam, Hyderabad, Guwahati, Jabalpur, Madurai, Nagpur, Lucknow, Patna, Vishakapatnam and Pune.
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