What is DRT and DRAT?

Debts Recovery Tribunals and Debts Recovery Appellate Tribunals The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993 with the specific objective of providing expeditious adjudication and recovery of debts due to Banks and Financial Institutions. At present, 39 Debts Recovery Tribunals (DRTs) and 5 Debts Recovery Appellate Tribunals (DRATs) are functioning across the country. Each DRT and DRAT are headed by a Presiding Officer and a Chairperson respectively. The post of Presiding Officer is equivalent to a District Judge and the post of Chairperson is equivalent to that of a High Court Judge. Debt Recovery Laws Recovery of Debts Due to Banks and Financial Institutions (RDDBFI Act), 1993 is an Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to Banks and Financial Institutions and for matters connected therewith or incidental thereto. Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest (SARFAESI)Act, 2002 is an Act to regulate securitisation and reconstruction offinancial assets and enforcement of security interest and for matters connected therewith or incidental thereto. Debts Recovery Tribunals and Debts Recovery Appellate Tribunals The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts Due to Banks and Financial Institutions Act (RDDBFI Act), 1993 with the specific objective of providing expeditious adjudication and recovery of debts due to Banks and Financial Institution. At present, 39 Debts Recovery Tribunals (DRTs) and 5 Debts Recovery Appellate Tribunals (DRATs) are functioning across the country. Each DRT and DRAT are headed by a Presiding Officer and a Chairperson, respectively. The post of Presiding Officer is equivalent to a District Judge, while that of the Chairperson is equivalent to a High Court Judge. 1 The Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing Rules, 2020 2 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) (Amendment) Rules, 2020 3 The Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing Rules, 2020 4 Notification No. S.O 103(E) dated 2.2.2007 – Security Interest (Enforcement) Amendment Rules, 2007 5 Notification No.1043(E), 1044(E), 1045(E), 1046|(E) and 1047 (E) dated 03.11.2016 regarding various amendments in DRAT and DRT Procedural Rules 6 Notification No. S.O 1837(E) dated 26.10.2007 – Security Interest (Enforcement) Amendment Rules, 2007 7 Notification GSR102(E) dated 22.1.16 – Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) (Amendment) Rules, 2016 8 Notification No. S.O 310(E) dated 15.5.2013 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) (Amendment) Rules, 2013 9 Debts Recovery Appellate Tribunal Recruitment Rules for Group C & D Posts 10 Debts Recovery Appellate Tribunal Recruitment Rules for Group A & B Posts 11 Debts Recovery Tribunals Recruitment Rules for Group C & D Posts 12 Debts Recovery Tribunals Recruitment Rules for Group A & B Posts 13 Debts Recovery Tribunals (Procedure for Investigation of Misbehavior or Incapacity of PO) Rules, 2012 14 Notification No. G.S.R 276(E) dated 31.3.2011 – Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) (Amendment) Rules, 2011 15 Debts Recovery Appellate Tribunal (Procedure for appointment as Chairperson of the Appellate Tribunal Amendment Rules), 2011 16 Debts Recovery Tribunals ( Procedure for Investigation of Misbehaviour or incapacity of Presiding Officer ) Rules, 2010 17 Debts Recovery Tribunals (Procedure for Appointment as PO of the Tribunal Amendment Rules), 2010 18 Debts Recovery Tribunals (Salaries allowances and other terms and conditions of service of Presiding Officer Amendment Rules), 2008 19 Debts Recovery Appellate Tribunal (Procedure for the appointment of Chairperson of the Appellate Tribunal)amendment Rules ,2005 20 Notification No. S.O 1020(E) dated 20th Sept 2002 – Security Interest (Enforcement) Rules, 2002 21 Debts Recovery Tribunals (Procedure for appointment as PO of the Tribunal Amendment Rules), 2000 22 Debts Recovery Appellate Tribunals (Procedure for appointment as Chairperson of the Appellate Tribunal Amendment Rules), 2000 23 Debts Recovery Appellate Tribunals (Procedure for appointment as Chairperson of the Appellate Tribunal Rules), 1998 24 Debts Recovery Tribunal (Procedure for the appointment of Presiding Officer of the Tribunal) Rules,1998 25 Debts Recovery Tribunal (Procedure) Amendment Rules, 1997 26 Debts Recovery Tribunal (Financial and Administrative Power) Rules, 1997 27 Debts Recovery Tribunals (Procedure) Amendment

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