Debt Recovery Tribunal: What is it and how does it work?

  Introduction A DRT is an impartial adjudicatory physique that has been created via the Debt Recovery Tribunals Act, 1999 to expedite the technique of restoration of cash owed to lenders via organizations and individuals. A DRT hears things associated to bankruptcy, insolvency or enterprise agreement in a rapid and within your means manner. Different Types Of DRTs: There are exclusive kinds of DRTs in India i.e. National Company Law Tribunal (NCAT), High Courts, State Companies’ Wards and Debt Discharge Tribunals (SDTs) And debt recovery appellate tribunal(DRAT) What is the technique observed in a DRT? A DRT is an adjudicatory […]