{"id":48077,"date":"2025-05-25T15:39:32","date_gmt":"2025-05-25T10:09:32","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=48077"},"modified":"2025-05-29T16:26:11","modified_gmt":"2025-05-29T10:56:11","slug":"debt-recovery-tribunals-drts","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/debt-recovery-tribunals-drts\/","title":{"rendered":"Debt Recovery Tribunals (DRTs)"},"content":{"rendered":"<h2>Debt Recovery Tribunals (DRTs) Latest News<\/h2>\n<p>The Department of Financial Services (DFS) under the Ministry of Finance organised a colloquium recently at New Delhi, bringing together Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs).<\/p>\n<h2>About Debt Recovery Tribunals (DRTs)<\/h2>\n<ul>\n<li><strong>Debt Recovery Tribunals (DRTs)<\/strong>\u00a0are\u00a0<strong>quasi-judicial bodies<\/strong>\u00a0established under the\u00a0<strong>Recovery of Debts Due to Banks and Financial Institutions Act, 1993<\/strong>.<\/li>\n<li>Their primary role is adjudicating<strong>\u00a0debt recovery disputes<\/strong>\u00a0related to banks and\u00a0<strong>financial institutions<\/strong>.<\/li>\n<li>DRTs handle\u00a0<strong>loan default cases above \u20b920 lakh<\/strong>, focusing on\u00a0<strong>secured debts<\/strong>.<\/li>\n<li>DRTs also hear\u00a0<strong>Securitisation Applications (SAs)<\/strong>\u00a0filed under the\u00a0<strong>SARFAESI Act, 2002<\/strong>\u00a0by borrowers or aggrieved parties.<\/li>\n<li>There are currently\u00a0<strong>39 DRTs functioning<\/strong>\u00a0across India, each headed by a\u00a0<strong>Presiding Officer<\/strong>.<\/li>\n<\/ul>\n<h3>Structure and Powers of DRTs<\/h3>\n<ul>\n<li>A DRT is presided over by a\u00a0<strong>judicial officer qualified to be a District Judge<\/strong>.<\/li>\n<li>It can also have\u00a0<strong>administrative and technical members<\/strong>\u00a0appointed by the Central Government.<\/li>\n<li>Under\u00a0<strong>Section 22(2)<\/strong>\u00a0of the Recovery of Debts Act, DRTs have powers to:\n<ul>\n<li><strong>Summon and examine witnesses<\/strong>,<\/li>\n<li><strong>Compel the production of documents<\/strong>,<\/li>\n<li><strong>Receive evidence on affidavits<\/strong>,<\/li>\n<li><strong>Review or dismiss applications<\/strong>,<\/li>\n<li><strong>Conduct ex parte proceedings<\/strong>,<\/li>\n<li><strong>Issue commissions<\/strong>\u00a0for document and witness examination.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Jurisdiction of DRTs: Each DRT has a territorial jurisdiction defined by the Central Government.<\/strong>\n<ul>\n<li>Jurisdiction is limited to cases involving\u00a0<strong>debt recovery by banks and financial institutions<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>About Debt Recovery Appellate Tribunals (DRATs)<\/h2>\n<ul>\n<li><strong>DRATs<\/strong>\u00a0are the\u00a0<strong>appellate authorities<\/strong>\u00a0for decisions made by DRTs.<\/li>\n<li>Appeals can be filed by aggrieved parties seeking\u00a0<strong>review of DRT rulings<\/strong>.<\/li>\n<li>Currently, 5 DRATs are functioning in India, each headed by a\u00a0<strong>Chairperson<\/strong>.<\/li>\n<li>DRATs ensure\u00a0<strong>judicial oversight and uniformity<\/strong>\u00a0in debt recovery matters and promote\u00a0<strong>legal clarity<\/strong>\u00a0on complex recovery disputes.<\/li>\n<\/ul>\n<h2>Debt Recovery Tribunals (DRTs) FAQs<\/h2>\n<p><strong>Q1<\/strong>. What are Debt Recovery Tribunals (DRTs)?<br \/>\n<strong>Ans:<\/strong>\u00a0DRTs are quasi-judicial bodies established under the Recovery of Debts and Bankruptcy Act, 1993 to facilitate the expeditious recovery of debts due to banks and financial institutions.<\/p>\n<p><strong>Q2.\u00a0<\/strong>How many DRTs and DRATs are there in India?<br \/>\n<strong>Ans:<\/strong>\u00a0As of now, there are 39 DRTs and 5 Debt Recovery Appellate Tribunals (DRATs) functioning across India.<\/p>\n<p><strong>Q3.\u00a0<\/strong>What is the monetary limit for cases to be filed in DRT?<br \/>\n<strong>Ans:<\/strong>\u00a0A bank or financial institution can approach a DRT if the debt amount is \u20b920 lakh or more.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2130960\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Debt Recovery Tribunals (DRTs) are quasi-judicial bodies established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.<\/p>\n","protected":false},"author":8,"featured_media":48082,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[540,21,23],"class_list":{"0":"post-48077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-debt-recovery-tribunals-drts","9":"tag-prelims-pointers","10":"tag-upsc-prelims-current-affairs","11":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/48077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=48077"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/48077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/48082"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=48077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=48077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=48077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}