Suresh Sihag
Asked September 08, 2016

Jurisdiction of the DRT

  • 1 Answer
  • 421 Views

Whether the DRT has jurisdiction to decide the application to recover the amount paid to insured consigner from the transporter /tortfeasor?

Answer 1

Debt Recovery Tribunal, or DRT, is to help financial institutions recover their bad debts quickly and efficiently. They enforce provisions of the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 and Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002.  Under the RDDBFI Act, 1993 banks approach the DRT whereas under SARFAESI Act, 2002 borrowers, guarantors, and other any other person aggrieved by any action of the bank can approach the DRT.

Hence, from a plain reading of your query, it does not seem as though the DRT has a jurisdiction to hear the case. However, more details would help us answer your query in a more detailed manner.

Please provide more details of this case so that we will get back to you with a more in-depth answer.

 

Thank you for contacting Lawfarm!

Agree Comment 0 Agrees about 4 years ago

Please Login or Register to Submit Answer

Directory ads
Need to talk to a lawyer?

Book a phone consultation with a top-rated lawyer on Lawfarm.