Explain the jurisdiction of a money recovery suit in India

Introduction Money recovery suits are legal proceedings initiated by an individual or entity seeking to recover a debt owed to them by another person or entity. The jurisdiction of a money recovery suit refers to the court’s power and authority to hear and adjudicate the case. In this blog, we will explain the jurisdiction of a money recovery suit in India. In India, the jurisdiction for a money recovery suit is determined by the value of the claim. If the claim is less than Rs. 20 lakhs, the suit can be filed in a civil court having jurisdiction over the […]

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 […]