Debt Recovery Tribunals: A Guide for Businesses dohaj.com

Learn about the Debt Recovery Tribunals, their powers and functions, and how to file a case in a Debt Recovery Tribunal. Since a long time ago, Indian banks and financial institutions have struggled to collect debts from defaulters and enforce securities. The Narasimham Committee of 1991 suggested the creation of Special Tribunals such as DRT (DEBT RECOVERY TRIBUNALS) s (Debt Recovery Tribunals) and DRATs (DEBT RECOVERY APPELLATE TRIBUNAL) (Debt Recovery Appellate Tribunals) in order to streamline such proceedings because the process for such recovery was irregular and incredibly time-consuming.