Classified Id: 920296
Classified
Title:
Debt Recovery Tribunal Act
Category: Services:: Investment - Financial Planning
City: Delhi Locality: New Delhi
Date Listed/Updated: 2022-03-24
Author/Publisher name:
Description: Debt Recovery Tribunals were created to make it easier for banks and other financial organisations to collect debts from their clients. This might not be useful for various Debt Collection Agency. After the passage of the Recovery of Debts Due to Banks and Financial Institutions Act (RDBBFI) in 1993, DRTs were established. The Debts Recovery Appellate Tribunal hears appeals against DRT orders (DRAT). For challenged debts over Rs 10 lakhs, DRTs might accept cases from banks. There are currently 33 DRTs and 5 DRATs in operation throughout the country. The government established six new DRTs in 2014 to expedite the resolution of loan-related disputes.
Mobile Number: 9560706772
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Homepage: https://www.mnscredit.com
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