Debt Recovery Tribunal
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Free sample — 8 of 66 rapid-fire Q&A cards.
Under which Act were Debt Recovery Tribunals (DRTs) established in India?
DRTs were established under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993, to provide a faster mechanism for banks to recover dues.
What does DRT stand for in Indian banking law?
Debt Recovery Tribunal
What is the minimum debt amount for which a case can be filed before a DRT?
A case can be filed before a DRT for recovery of debts of Rs. 20 lakh and above.
What does DRAT stand for in the context of DRT appeals?
Debt Recovery Appellate Tribunal
Who presides over a Debt Recovery Tribunal?
A DRT is presided over by a Presiding Officer, who is a person qualified to be appointed as a District Judge.
In which year was the RDDBFI Act enacted to establish DRTs?
1993
What is the appellate authority over a Debt Recovery Tribunal?
The Debt Recovery Appellate Tribunal (DRAT) is the appellate authority over a DRT.
Which court's jurisdiction is excluded once a DRT takes up a matter?
Civil court jurisdiction is excluded
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