Debt Recovery Tribunal (DRT) Jabalpur: A Comprehensive Guide
Debt Recovery Tribunal (DRT) Jabalpur: A Comprehensive Guide
Blog Article
The Debt Recovery Tribunal (DRT) Jabalpur is a judicial body established to handle cases related to the recovery of debts owed to banks and financial institutions. It ensures a structured legal process, allowing lenders to recover dues while protecting borrowers from unfair recovery practices.
Role and Jurisdiction of DRT Jabalpur
DRT Jabalpur operates under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993, and has jurisdiction over cases where the outstanding loan amount exceeds ₹20 lakh. The tribunal handles:
✔ Debt recovery suits filed by banks and financial institutions.
✔ Issuance of recovery certificates to lenders after case resolution.
✔ SARFAESI Act cases, enabling banks to seize and sell mortgaged assets without court intervention.
✔ Hearing borrower appeals against bank actions or settlements.
The tribunal is led by a Presiding Officer, ensuring transparency and efficiency in handling cases.
How to Find a DRT Lawyer in Jabalpur
If you are involved in a case before the Debt Recovery Tribunal, seeking expert legal representation is crucial. Here’s how you can find a qualified DRT advocate in Jabalpur:
???? Legal Banking Lawyer Ajay Gautam Advocate Directories – Websites like Justdial, LawRato, and AdvocateKhoj list lawyers specializing in debt recovery cases.
???? LinkedIn & Legal Platforms – Searching for DRT lawyers in Jabalpur on LinkedIn, Bar Council websites, or legal forums can connect you with professionals.
???? Jabalpur click here Bar Association – The local bar council can provide recommendations for experienced debt recovery lawyers.
???? Online Consultations – Many legal professionals offer virtual consultations, allowing you to seek guidance remotely.
Key Legal Considerations in DRT Cases
???? Appeal Deadlines: Borrowers must file an appeal within 45 days of an order issued under the SARFAESI Act.
???? Recovery Actions: Once a recovery certificate is issued, banks can seize assets, auction properties, or take further legal steps.
???? Borrowers’ Rights: Borrowers can challenge unfair recovery actions, negotiate settlements, or seek judicial relief.
???? Faster Resolution: DRTs more info resolve cases quicker than traditional courts, reducing long delays in financial disputes.
Where to Get More Information
For the latest updates, case status, and legal procedures, visit the Department of Financial Services, Ministry of Finance, Government of India:
https://financialservices.gov.in
Whether you are a bank seeking Banking Lawyer Ajay Gautam Advocate debt recovery or a borrower defending against unfair actions, understanding DRT Jabalpur’s legal framework and consulting a skilled advocate can significantly DRT Lawyer Ajay Gautam Advocate impact your case outcome.