debts recovery tribunal

Legal Mends & Loan Repayments: Repercussions of Debt Recovery Tribunals In India

Finance - This paper mainly discusses the scenario in the current legal system with respect to loan repayments and the laws related to them. The foundation of the debt recovery tribunals was only to ease the prompt recovery of debt payable back to Indian banks and finance house or to recover the Non- Performing Assets (NPA)...

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No provision to re-seal property already auctioned by nationalized banks

Finance - There is no mention of the term re-sealing of property in SARFAESI Act, 2022 and the Recovery of Debts and Bankruptcy (RDB) Act, 1993...

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DRT cannot restrain a Debtor’s Fundamental Right to Travel Abroad

Anurag S/o. Padmesh Gupta Vs Bank of India (Bombay High Court) - HC held that Debt Recovery Tribunal (DRT) Not Empowered In Law To Restrain A Debtor's Fundamental Right To Travel Abroad....

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SARFAESI / DRT proceeding not extends limitation period under IBC

Bimalkumar Manubhai Savalia Vs Bank of India (NCLAT) - Bimalkumar Manubhai Savalia Vs Bank of India (NCLAT) Conclusion: Proceedings initiated or pending in DRT, either initiated under SARFAESI or under debts and due to Banks and Financial Institutions could not be taken into account for the purposes of limitation.  Therefore, the application filed by B...

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DRT cannot condone delay in Filing Appeal before it: SC

International Asset Reconstruction Company of India Ltd. Vs The Official Liquidator of Aldrich Pharmaceuticals Ltd. (Supreme Court of India) - The application of Section 5 of the Limitation Act by resort to Section 29(2) of the Limitation Act, 1963 therefore does not arise. The prescribed period of 30 days under Section 30(1) of the RDB Act for preferring an appeal against the order of the Recovery officer therefore cannot be condoned by a...

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Govt changes Jurisdiction of certain Debts Recovery Tribunals

Notification No. S.O. 4145(E). - (10/09/2021) - MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 10th September, 2021 S.O. 4145(E).—In exercise of the powers conferred by section 3 of the Recovery of Debts and Bankruptcy Act, 1993, (51 of 1993), the Central Government hereby makes the following amendment in the...

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Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021

Notification No. G.S.R. 501 (E). - (22/07/2021) - (1) These rules may be called the Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette....

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Change in Location of Debts Recovery Appellate Tribunal, Chennai

Notification No. S.O. 2824(E) - (14/07/2021) - Central Government hereby notifies the following change in the location of Debts Recovery Appellate Tribunal, Chennai with effect from 09.07.2021...

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Govt establishes Debts Recovery Tribunal at Siliguri WEF 16.03.2017

Notification No. S.O. 831(E) - (15/03/2017) - Central Government hereby notifies the establishment of the Debts Recovery Tribunal at Siliguri with effect from the 16th day of March, 2017 ...

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Govt establishes Debts Recovery Tribunal at Dehradun

Notification No S.O. 454(E) - (15/02/2017) - Central Government hereby establish the Debts Recovery Tribunal at Dehradun with effect from the 16th day of February, 2017 and hereby specifies the area of jurisdiction of the Debts Recovery Tribunals at Allahabad, Lucknow and Dehradun in the States of Uttar Pradesh and Uttarakhand,...

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Recent Posts in "debts recovery tribunal"

No provision to re-seal property already auctioned by nationalized banks

There is no mention of the term re-sealing of property in SARFAESI Act, 2022 and the Recovery of Debts and Bankruptcy (RDB) Act, 1993...

Read More
Posted Under: Finance |

Legal Mends & Loan Repayments: Repercussions of Debt Recovery Tribunals In India

This paper mainly discusses the scenario in the current legal system with respect to loan repayments and the laws related to them. The foundation of the debt recovery tribunals was only to ease the prompt recovery of debt payable back to Indian banks and finance house or to recover the Non- Performing Assets (NPA)...

Read More
Posted Under: Finance |

DRT cannot restrain a Debtor’s Fundamental Right to Travel Abroad

Anurag S/o. Padmesh Gupta Vs Bank of India (Bombay High Court)

HC held that Debt Recovery Tribunal (DRT) Not Empowered In Law To Restrain A Debtor's Fundamental Right To Travel Abroad....

Read More

Govt changes Jurisdiction of certain Debts Recovery Tribunals

Notification No. S.O. 4145(E). 10/09/2021

MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 10th September, 2021 S.O. 4145(E).—In exercise of the powers conferred by section 3 of the Recovery of Debts and Bankruptcy Act, 1993, (51 of 1993), the Central Government hereby makes the following amendment in the notification of the Government of India...

Read More

Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021

Notification No. G.S.R. 501 (E). 22/07/2021

(1) These rules may be called the Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette....

Read More

Change in Location of Debts Recovery Appellate Tribunal, Chennai

Notification No. S.O. 2824(E) 14/07/2021

Central Government hereby notifies the following change in the location of Debts Recovery Appellate Tribunal, Chennai with effect from 09.07.2021...

Read More

SARFAESI / DRT proceeding not extends limitation period under IBC

Bimalkumar Manubhai Savalia Vs Bank of India (NCLAT)

Bimalkumar Manubhai Savalia Vs Bank of India (NCLAT) Conclusion: Proceedings initiated or pending in DRT, either initiated under SARFAESI or under debts and due to Banks and Financial Institutions could not be taken into account for the purposes of limitation.  Therefore, the application filed by Bank before the Adjudicating Authority on...

Read More
Posted Under: Finance | |

DRT cannot condone delay in Filing Appeal before it: SC

International Asset Reconstruction Company of India Ltd. Vs The Official Liquidator of Aldrich Pharmaceuticals Ltd. (Supreme Court of India)

The application of Section 5 of the Limitation Act by resort to Section 29(2) of the Limitation Act, 1963 therefore does not arise. The prescribed period of 30 days under Section 30(1) of the RDB Act for preferring an appeal against the order of the Recovery officer therefore cannot be condoned by application of Section 5 of the Limitatio...

Read More

Govt establishes Debts Recovery Tribunal at Siliguri WEF 16.03.2017

Notification No. S.O. 831(E) 15/03/2017

Central Government hereby notifies the establishment of the Debts Recovery Tribunal at Siliguri with effect from the 16th day of March, 2017 ...

Read More

Govt establishes Debts Recovery Tribunal at Dehradun

Notification No S.O. 454(E) 15/02/2017

Central Government hereby establish the Debts Recovery Tribunal at Dehradun with effect from the 16th day of February, 2017 and hereby specifies the area of jurisdiction of the Debts Recovery Tribunals at Allahabad, Lucknow and Dehradun in the States of Uttar Pradesh and Uttarakhand,...

Read More

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