Professional Legal Assistance in Debt Recovery Tribunal (DRT) Matters
At ICP Legal, we provide expert services in handling cases before the Debt Recovery Tribunal (DRT), ensuring robust representation and favorable outcomes for financial institutions, businesses, and individuals.
What Are Debt Recovery Tribunal Matters?
The Debt Recovery Tribunal (DRT) was established under the Recovery of Debts and Bankruptcy Act, 1993, to facilitate the efficient recovery of debts owed to banks and financial institutions. DRT matters often involve:
- Non-payment of loans or advances.
- Loan defaults exceeding ₹20 lakhs.
- Recovery of secured or unsecured debts.
Key Features of DRT Proceedings
- Specialized tribunal exclusively handling debt recovery matters.
- Simplified and expedited process compared to regular civil courts.
- Applicability of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) for recovery of secured debts.
Services We Offer in Debt Recovery Tribunal Matters
- Filing and Defending Applications
- Representing banks, financial institutions, or borrowers in DRT proceedings.
- Negotiation and Settlement
- Facilitating out-of-tribunal settlements to resolve disputes amicably.
- Appeals Before DRAT
- Challenging unfavorable DRT orders in the Debt Recovery Appellate Tribunal (DRAT).
- Legal Representation
- Comprehensive advocacy in all DRT-related matters.
Why Choose ICP Legal for DRT Matters?
- Experienced Advocates: A dedicated team with in-depth knowledge of debt recovery laws and DRT procedures.
- Tailored Strategies: Customized legal solutions to address unique case complexities.
- Proven Track Record: Success in numerous high-value debt recovery cases.
At ICP Legal, we understand the criticality of timely debt recovery. Whether you are a creditor seeking swift enforcement or a borrower navigating legal challenges, trust us to provide efficient, result-driven representation in all Debt Recovery Tribunal matters.