About Us

The banks and financial institutions in India have over the years have been experiencing considerable difficulties in recovering huge amounts of public money blocked in the hands of defaulting borrowers as the existing procedure for recovery of debts due to banks and financial institutions was not simple, swift and capable of reaching a final decision within a time frame.

The banks and financial institutions in India have over the years have been experiencing considerable difficulties in recovering huge amounts of public money blocked in the hands of defaulting borrowers as the existing procedure for recovery of debts due to banks and financial institutions was not simple, swift and capable of reaching a final decision within a time frame.

The Government of India, as a step to streamline the system, appointed committees like “The Tiwari Committee, the Committee on Financial Systems headed by Shri M.Narasimham, former Governor of Reserve Bank of India, and “High Level Committee” headed by V.S. Hegde.  These Committees had recommended the setting up of special tribunals for speedy realization of dues of the credit institutions.

President of India promulgated The Recovery of debts due to Banks and Financial Institutions Ordinance, 1993 (Ordinance No.25 of 1993) on 24th June 1993, to provide for establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions.

Later, the Ordinance was replaced by The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (DRT Act) enacted by the Parliament and given assent by the President of India on 27th August 1993.  The Act came in to force on 24th June 1993. Immediately Action was initiated by the Government for establishment of Recovery Tribunals and Appellate Tribunals in the country.  Presently, there are 29 DRTs and 5 DRATs functioning all over the country.  The pecuniary jurisdiction of these Tribunals is Rs.10.00 lakhs and above. 

Debts Recovery Tribunal at Madurai started its functions with effect from 16/01/2007 with the jurisdiction of 14 Districts of Tamil Nadu.

 

COMPOSITION

The Debts Recovery Tribunal is headed by a Presiding Officer and other officers consist of one Registrar, two Recovery Officers and one Assistant Registrar with supporting staff. 

Shri Su. WILLYAHM  is the Presiding Officer.  He has assumed the charge in the Tribunal on 21-10-2016.