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DRT Proceedings
Debt Recovery Tribunal matters, recovery applications, counter-claims
What are DRT Proceedings?
📌 Overview
Debt Recovery Tribunal (DRT) handles recovery applications by banks and financial institutions. HLAPL provides representation in DRT matters including recovery applications and counter-claims.
✅ Key Aspects
Recovery application filing, Written statements and counter-claims, Evidence and cross-examination, Interim relief applications, Settlement negotiations, Appeal to DRAT.
⚖️ Legal Framework
Governed by Recovery of Debts and Bankruptcy Act, 1993. DRT has jurisdiction over debts above ₹20 lakhs. HLAPL ensures effective representation.
Important FAQs
❓ What is the limitation period for DRT application?
3 years from date of default or declaration of NPA. HLAPL advises on limitation and filing.
❓ Can borrower file counter-claim in DRT?
Yes, borrowers can file counter-claims for wrongful classification or excess interest. HLAPL assists in counter-claim drafting.
❓ What is appeal process against DRT order?
Appeal to DRAT within 45 days. HLAPL handles appeals before DRAT.
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