Tag: DRT
Central Government has notified change in the location of Debts Recovery Tribunal-III, Chennai with effect from 27.09.2021 (Monday) The old place and the new place of working is as under: Name of the Tribunal Place where the Tribunal was functioning Place at which the Tribunal will function Debts …
e filing of pleading before DRT & DRAT made mandatory where debt to be recovered is Rs. 100 crore and above. MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 22nd July, 2021 G.S.R. 501 (E).—In exercise of the powers conferred by clause (ccd) of sub-section(2) of …
There is a change in the address and location of Debts Recovery Appellate Tribunal (DRAT) Chennai with effect from 09.07.2021. The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDBFI Act) provides speedy redressal to lenders and borrowers through filing of Original Applications (OAs) in …
Winding up Petition after secured creditor obtained decree from DRT and recovery certificate issued upheld by the Supreme Court ABCAUS Case Law Citation: ABCAUS 2758 (2019) (01) SC Important Case Laws Cited/relied upon by the parties Allahabad Bank v. Canara Bank, (2000) 4 SCC 406 Amalgamated Commercial Traders …
Presiding Officers of DRT entitled to benefit of increased age under section 6 of the Recovery of Debts and Bankruptcy Act, 1993 – Supreme Court ABCAUS Case Law Citation: ABCAUS 2507 (2018) 09 SC Petitioners in the instant petitions were appointed as Presiding Officers of Debt Recovery Tribunal …
Monetary limit raised for filing application in Debts Recovery Tribunals by banks and financial institutions to Rs. 20 lakh rupees from ten lakh In 1981, the Committee on the Financial System examined the problem faced by the Banks and financial institutions in recovering loans and enforcement of securities charge, …
Delhi HC orders Bank Chairman to inquire attachment of wrong property on private detective agency report basis and fix responsibility for negligent acts without due diligence and basic title research/inspection. ABCAUS Case Law Citation: ABCAUS 1280 (2017) (06) HC Brief Facts of the Case: As per record, …
DRT has jurisdiction to entertain appeal us 17 of SRFAESI Act even if the amount involved is less than Rs. 10 lakh. ABCAUS Case Law Citation: 1049 (2016) (11) SC Important Case Laws Cited: Mardia Chemicals Ltd. and others v. Union of India and others 2004(4) SCC 311 …