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<p><b>New page</b></p><div>{{Short description|Indian quasi-judicial body}}<br />
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'''Debt Recovery Tribunal''' is a [[Quasi-judicial body|quasi-judicial]] body formed under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 to facilitate recovery of [[loan]]s by [[bank]]s and [[financial institution]]s to the customers. Orders of the Debt Recovery Tribunal are appealable before the Debts Recovery Appellate Tribunal. [[Government of India]] selects the presiding officer in the Tribunal. The Tribunal is based on Debt Recovery Tribunals Act for a debt which is more than Rs 20,00,000. The Jurisdiction extends to whole of India except to the state of [[Jammu and Kashmir (union territory)|Jammu and Kashmir]].<br />
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== History and objective ==<br />
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Debts Recovery Tribunals (DRTs) were formed under Banks and Financial Institutions (RDDBFI) Act, 1993 to facilitate debt recoveries by banks and financial institutions and to design an effective mechanism to recover their dues speedily without being subjected lengthy process of civil courts.<ref name="dt1">{{cite news |last1=Lele |first1=Abhijit |title=What prevents India's Debt Recovery Tribunals from actually recovering bad debts? |url=https://www.business-standard.com/article/finance/what-ails-the-debt-recovery-tribunals-116031400407_1.html |access-date=2 April 2022 |publisher=business-standard.com |date=14 March 2016 |language=en}}</ref><ref name="dt2">{{cite news |title=Why Does it Take So Long to Resolve Debt Recovery Cases in India? |url=https://thewire.in/economy/debt-recovery-npa-insolvency |access-date=2 April 2022 |publisher=The Wire |date=21 November 2016}}</ref><br />
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The objective of Debt Recovery Tribunal is to ensure recovery of borrowed money from debtors which are due to banks and various financial institutions.<ref name="dt3" /> Their role is limited to settling the claims and ensure the balance amount related to non-performing assets as categorised by the banks as per the provisions of RBI guidelines are recovered.<ref name="dt3" /><br />
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== Powers ==<br />
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Debt Recovery Tribunal has powers of District Court for any claims before it relating to recovery of Debts.<ref name="dt3" /> The Recovery officer in the tribunal is responsible to execute the recovery orders sanctioned by the Presiding Officers. DRT is bound to follow the legal procedure by laying emphasis on quick disposal of the cases and efficient and effective disposal of orders.<ref name="dt3" /><br />
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== Composition ==<br />
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Debt Recovery Tribunal consists of Presiding and Recovery officers.<ref name="dt4">{{cite news |last1=Khan |first1=Khadija |title=Central government clears appointment of Presiding Officers to 18 Debt Recovery Tribunals |url=https://www.barandbench.com/news/central-government-clears-appointment-of-presiding-officers-to-18-debt-recovery-tribunals |access-date=3 April 2022 |publisher=Bar and Bench – Indian Legal news |date=21 February 2022 |language=en}}</ref><br />
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== Application ==<br />
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Debt Recovery Tribunal is applicable for below cases<ref name="dt5">{{cite news |title=Debt Recovery Tribunal {{!}} Powers & Functions of DRT |url=https://www.lawyered.in/legal-disrupt/articles/all-you-need-know-about-debt-recovery-tribunal-advocate-praveen-kumar/ |access-date=2 April 2022 |publisher=lawyered.in |date=23 July 2019 |language=en-us}}</ref><br />
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The Debt Recovery Tribunal Act is applicable in entire India including Jammu & Kashmir after article 370 of the constitution has been made ineffective.<br />
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The act is applicable for due amount above Rs. 20, 00,000.<ref name="dt3">{{cite news |title=Matters overseen by the Debt Recovery Tribunals |url=https://www.lawinsider.in/columns/matters-overseen-by-the-debt-recovery-tribunals |access-date=3 April 2022 |publisher=Law Insider India |date=27 August 2021}}</ref><br />
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The act is also applicable even if the preliminary application for Debts recovery had been filed only by Banks and the Financial Institutions.<br />
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== Places ==<br />
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Debt recovery tribunals are set up in 39 places and The debt recovery appellate tribunals are based in 5 places, in India, they are; Mumbai, Delhi, Kolkata, [[Allahabad]], and Chennai .<br />
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== Challenges ==<br />
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Debt Recovery Tribunal faces understaffing challenges with most positions not being filled up in time.<br />
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== See also ==<br />
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* [[Tribunals in India]].<br />
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== References ==<br />
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{{Reflist}}<br />
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== External links ==<br />
* [https://drt.gov.in/ Official Website]<br />
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[[Category:Government agencies of India]]<br />
[[Category:Indian tribunals]]</div>Sanjanadalvi