DRT Lawyers in Pudukkottai

The Debts Recovery Tribunal (DRT) facilitates debt recovery involving banks and other financial institutions with their customers. It was introduced by the Central Government to ensure speedy resolution of financial disputes. DRTs now handle cases from banks for disputed loans above ₹20 lakhs. Compared to ordinary court procedures, DRTs provide quicker proceedings and reduced delays during the initial stages. Our expert DRT lawyers offer the best legal consultation and representation for debt recovery matters.

Function of DRT

The primary role of the Debts Recovery Tribunal (DRT) is to recover funds from borrowers that are payable to banks and financial institutions. The tribunal’s authority is limited to settling cases related to the recovery of unpaid amounts from Non-Performing Assets (NPAs) as declared by banks under RBI guidelines. DRTs follow a structured legal procedure with an emphasis on the swift implementation of final orders.

Role of DRT lawyers in the process

DRT lawyers assist in recovering all outstanding loans owed to banks and financial institutions. They guide clients in preparing and filing applications in the prescribed format. The application must be submitted to the tribunal’s registrar within the jurisdiction where the case falls, or it can be sent via registered post addressed to the registrar.

After submitting the application, it must be delivered on the same day it is received by the registrar. Once the application is presented and verified to be in order, it is duly registered and assigned a serial number. Following this, an original application number is issued along with a summon. If the outcome is not in your favor, you may appeal against the Recovery Officer’s decision to the DRT within 30 days from the date of the order.

Filing a DRT case is not as simple as it may seem. There are multiple procedures to follow before, during, and after the case, and even small mistakes can lead to serious complications. Seeking legal advice from a trustworthy and experienced lawyer ensures a hassle-free and effective resolution of your case.

Being the DRT Lawyers in Pudukkottai we offer you the top class service in all possible aspects.

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Our firm’s vision is to provide effective legal solutions to our clients by appointing a skilled lawyer to handle each issue with dedication and professionalism.