Debt Recovery Tribunal (DRT) Jabalpur: A Legal Guide for Borrowers and Lenders
Debt Recovery Tribunal (DRT) Jabalpur: A Legal Guide for Borrowers and Lenders
Blog Article
The Debt Recovery Tribunal (DRT) Jabalpur is a specialized legal forum established to handle cases related to debt recovery by banks and financial institutions. It plays a crucial role in ensuring that lenders recover outstanding dues efficiently while safeguarding the rights of borrowers.
What is the Role of DRT Jabalpur?
DRT Jabalpur was set up under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993, to expedite loan recovery cases where the defaulted amount exceeds ₹20 lakh. The tribunal primarily deals with:
✔ Debt recovery applications filed by banks, NBFCs, and financial institutions.
✔ Issuance of recovery certificates that legally enforce repayment.
✔ Cases under the SARFAESI Act, enabling banks to seize and auction secured assets.
✔ Borrower appeals, ensuring legal recourse for those contesting wrongful recovery actions.
The tribunal is presided over by a Presiding Officer, responsible for ensuring a fair and efficient legal process.
How to Find a DRT Lawyer in Jabalpur?
If you are facing a case at DRT Jabalpur, hiring an experienced DRT advocate is essential. Here’s how you can find one:
???? Legal Directories – Platforms like Justdial, LawRato, and AdvocateKhoj feature profiles of DRT lawyers.
???? LinkedIn & Online Legal Networks Banking Lawyer Ajay Gautam Advocate – Searching for Debt Recovery Tribunal lawyers in Jabalpur can help connect with professionals.
???? Jabalpur Bar Association – Visiting or contacting the local Bar Association can provide trusted lawyer recommendations.
???? Virtual Legal Consultations – Many advocates now offer online case evaluations, making legal assistance more accessible.
Key Aspects of Debt Recovery Tribunal Cases
???? Time-Sensitive Appeals: Borrowers have 45 days to appeal a DRT ruling under the SARFAESI Act.
???? Recovery Certificate Enforcement: Once issued, banks can proceed with property auctions, asset seizures, and other legal measures.
???? Rights of Borrowers: Borrowers can contest unfair claims, negotiate settlements, and SARFAESI Lawyer Ajay Gautam Advocate seek legal protection against wrongful recovery actions.
???? Faster Case Resolution: Unlike traditional courts, DRTs resolve debt disputes more efficiently, reducing unnecessary legal delays.
Where to Get More Information?
For Banking Lawyer Ajay Gautam Advocate official case updates, procedures, and guidelines, visit the Department of Financial Services, Ministry of Finance, Government of India:
https://financialservices.gov.in
Whether you are Banking Lawyer Ajay Gautam Advocate a financial institution seeking debt recovery or a borrower defending your case, understanding DRT Jabalpur’s legal framework and consulting an NPA Lawyer Ajay Gautam Advocate experienced advocate can help you navigate the process effectively.