debts recovery tribunal

Code of Conduct Guidelines For Debt Recovery Agents

Finance - Learn the core underpinnings of the Code of Conduct for Debt Recovery Agents, prescribed by the Reserve Bank of India and Bank/Financial company policies. Understand the Purpose, Philosophy and Spirit to be followed by agents at all times. Be professional and act within laws and regulations....

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)...

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...

Frequent Vacancy In DRTs, Practical Solution Needed: Delhi High Court

Jitender  Kumar Vs Punjab National Bank & Anr (Delhi High Court) - Frequent vacancy arising in DRT is an issue which needs consideration by Government and practical solution has to be found at the earliest....

SC ruling on whether deficiency in service to lead to compensation under Consumer Protection Laws

ITC Limited Vs Aashna Roy (Supreme Court of India) - Whether improper hair cut & consequent humiliation/embarrassment is deficiency in service for compensation under Consumer Protection Laws...

Property mortgaged in favour of bank after attachment by Income Tax Authorities- HC directs parties to file appeal before DRT

Maa Kalika Bhandar and Others Vs Collector and District Magistrate (Orissa High Court) - Maa Kalika Bhandar and Others Vs Collector and District Magistrate (Orissa High Court) Property was mortgaged in favour of the Bank on 28.06.2016 whereas the Income Tax Authorities had attached the same on 31.12.2015. Hence, the mortgaged transaction in favour of the Bank is void. Main argument stre...

HC directs govt to appoint presiding officer in DRT to ensure speedy justice

Nipun Praveen Singhvi Vs Union of India (Gujarat High Court) - Nipun Praveen Singhvi Vs Union of India (Gujarat High Court) Ministry of Personnel, Public Grievances and Pensions, Department of Personnel and Training Secretariat of the Appointments Committee of the Cabinet issued a notification dated 20.2.2022, whereby decision in respect of appointments approve...

Discretion vested with Judicial Forum must be exercised lawfully in a Judicious manner

Ganpat Pannalal Vs State Bank of India (Madhya Pradesh High Court) - Ganpat Pannalal Vs State Bank of India (Madhya Pradesh High Court) Conclusion: In the said case, the Hon’ble High Court while remanding the case to the Tribunal observed that the Tribunal under Section 22(1)(g) of the Recovery of Debts and Bankruptcy Act, 1993 was competent to restore the Securiti...

DRTs & DRATs – e-filing of pleadings by applicants is mandatory

Notification No. G.S.R. 79(E) - (31/01/2023) - Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2023 – The e-filing of pleadings with Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) by applicants is mandatory and any other form of filing shall not be taken o...

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...

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....

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...

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 ...

Recent Posts in "debts recovery tribunal"

Frequent Vacancy In DRTs, Practical Solution Needed: Delhi High Court

Jitender  Kumar Vs Punjab National Bank & Anr (Delhi High Court)

Frequent vacancy arising in DRT is an issue which needs consideration by Government and practical solution has to be found at the earliest....

Code of Conduct Guidelines For Debt Recovery Agents

Learn the core underpinnings of the Code of Conduct for Debt Recovery Agents, prescribed by the Reserve Bank of India and Bank/Financial company policies. Understand the Purpose, Philosophy and Spirit to be followed by agents at all times. Be professional and act within laws and regulations....

Posted Under: Company Law |

SC ruling on whether deficiency in service to lead to compensation under Consumer Protection Laws

ITC Limited Vs Aashna Roy (Supreme Court of India)

Whether improper hair cut & consequent humiliation/embarrassment is deficiency in service for compensation under Consumer Protection Laws...

DRTs & DRATs – e-filing of pleadings by applicants is mandatory

Notification No. G.S.R. 79(E) 31/01/2023

Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2023 – The e-filing of pleadings with Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) by applicants is mandatory and any other form of filing shall not be taken on record. MINISTRY OF FINANCE (Departmen...

Property mortgaged in favour of bank after attachment by Income Tax Authorities- HC directs parties to file appeal before DRT

Maa Kalika Bhandar and Others Vs Collector and District Magistrate (Orissa High Court)

Maa Kalika Bhandar and Others Vs Collector and District Magistrate (Orissa High Court) Property was mortgaged in favour of the Bank on 28.06.2016 whereas the Income Tax Authorities had attached the same on 31.12.2015. Hence, the mortgaged transaction in favour of the Bank is void. Main argument stressed is that the properties in both the ...

HC directs govt to appoint presiding officer in DRT to ensure speedy justice

Nipun Praveen Singhvi Vs Union of India (Gujarat High Court)

Nipun Praveen Singhvi Vs Union of India (Gujarat High Court) Ministry of Personnel, Public Grievances and Pensions, Department of Personnel and Training Secretariat of the Appointments Committee of the Cabinet issued a notification dated 20.2.2022, whereby decision in respect of appointments approved by the Committee of Cabinet for fillin...

Discretion vested with Judicial Forum must be exercised lawfully in a Judicious manner

Ganpat Pannalal Vs State Bank of India (Madhya Pradesh High Court)

Ganpat Pannalal Vs State Bank of India (Madhya Pradesh High Court) Conclusion: In the said case, the Hon’ble High Court while remanding the case to the Tribunal observed that the Tribunal under Section 22(1)(g) of the Recovery of Debts and Bankruptcy Act, 1993 was competent to restore the Securitization Application by imposition of reas...

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...

Posted Under: Company Law |

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)...

Posted Under: Company Law |

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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