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Advocate Allahabad High Court

Advocate Allahabad High Court

Best Anticipatory Bail Advocate Allahabad High Court,
Allahabad High Court based in Prayagraj Uttar Pradesh

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The Debt Recovery Tribunal (DRT) is a specialized court that deals with cases related to the recovery of loans and debts. It was established in 1993 under the Recovery of Debts Due to Banks and Financial Institutions Act (RDDBFI Act), 1993. The main objective of the DRT is to provide an expeditious and efficient mechanism for the recovery of bad debts.

When a borrower fails to repay a loan, the lender can initiate legal proceedings against the borrower to recover the debt. Under the RDDBFI Act, the lender can file a case with the DRT for the recovery of the debt. The DRT has the power to issue recovery certificates and attach the property of the borrower to recover the debt. The borrower can also file a counterclaim with the DRT if they have any objections to the claim of the lender.