Debt Recovery Tribunal
Also called: DRT · Topic: Justice Delivery: Subordinate Courts, Tribunals, Legal Aid and Judicial Reforms · NCERT: Beyond NCERT
Meaning
A Debt Recovery Tribunal (DRT) is a tribunal set up under the Recovery of Debts and Bankruptcy Act 1993 (RDB Act). It decides claims by banks and financial institutions to recover loans of ₹20 lakh or more. Appeals against its orders go to the Debts Recovery Appellate Tribunal (DRAT). It was created so that big bank recovery cases would not get stuck in slow civil courts.
Example
A bank wants to recover an unpaid business loan of ₹50 lakh. It files its claim before the DRT, not a civil court.
Don't confuse with
- National Company Law Tribunal: it handles company disputes and corporate insolvency under IBC 2016, not ordinary debt recovery claims under the RDB Act.
Related concepts
- National Green Tribunal
- National Company Law Tribunal
- National Company Law Appellate Tribunal
- Securities Appellate Tribunal
- Income Tax Appellate Tribunal
- GST Appellate Tribunal
- Armed Forces Tribunal
- Consumer Disputes Redressal Commissions