Best DRT Lawyers in Delhi
Debts Recovery Tribunal (DRT) was created under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. It is also under the Secularization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002. Under this, the loans of any bank or financial institution, if not paid by the borrower, becomes a bad debt.
The bank or the financial institution first issues the notice for recovery of the said loan. After the notice, the bank initiates the process of recovery of the loan. These proceedings are initiated under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993. We maintain the team of Best DRT Lawyers in Delhi.
The bank thus invokes the provisions of the Secularization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002 against the borrowers, guarantors. We have an in-house team of DRT lawyers for all such services against SARFASI Act cases at DRT.
THE PROCESS FOR FILING OF OA BEFORE DRT BY ADVOCATE FOR DRT CASE:
Any person aggrieved by any action of the bank under SARFASI Act can approach the Debts Recovery Tribunal (DRT). He can file Original Application against the action of the bank. Such application filed in DRT is called OA before DRT in short.
The case filed before the DRT is based on the SARFASI Act. It is also governed by all other applicable laws. The liability of the borrower to repay the loan is considered and determined. After considering all aspects of the matter, DRT passes orders on the application.
DRT finally determines the liability of the borrower and directs him to repay the loan or to reject the case and declare the borrower not liable to pay the loan amount.
We have in house team of best DRT Lawyers in Delhi. We provide all services at Debt Recovery Tribunal with confidence and excellent results. Our team of best DRT Lawyers is well versed with the entire law and process related to the Debt Recovery Tribunal Delhi.
They are in a position to provide the best results with their proactive strategy in any DRT case against banks or financial institution.