Frequently Asked Questions (F A Qs)
What are the Debts Recovery Tribunals?
The
Debts Recovery Tribunals have been established by the Government of India
under an Act of Parliament (Act 51 of 1993) for expeditious adjudication
and recovery of debts due to banks and financial institutions.
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Who can file cases before the DRTs?
Where a bank or financial institution has to recover any debt from any
person, it makes an application called Original Application (OA) to the
Tribunal against such person.
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What are the functions and procedure of the DRTs?
The
DRTs function under the provisions of the Recovery of Debts Due to Banks
and Financial Institutions Act, 1993 and as per the Debts Recovery
Tribunal (Procedure) Rules, 1993.
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What is the pecuniary jurisdiction of the DRTs?
The
provisions of the Recovery of Debts Due to Banks and Financial
Institutions Act, 1993 shall not apply where the amount of debt due to
bank or financial institution or to a consortium of banks or financial
institutions is less than ten lakhs rupees or such other amount, being not
less than one lakh rupees, as the Central Government may, by notification,
specify.
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What is the territorial jurisdiction of DRT, Madurai ?
The
territorial jurisdiction of DRT, Madurai comprises of
14 Districts of
Tamil Nadu.
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Who is the Appellate Authority against the orders passed by
the DRT, Madurai ?
The
Debts Recovery Appellate Tribunal for Southern Region at Chennai is the
appellate authority for the DRT, Madurai
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Who is the Appellate Authority against the orders passed by
Recovery Officers in DRT, Madurai ?
The
Presiding Officer of DRT is the appellate authority for the Recovery
Officers in DRT, Madurai.
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What is the fee for filing an Original Application (OA)
before the Tribunal?
The
fee payable as per Rule 7 of the Debts Recovery Tribunal (Procedure)
Rules, 1993 is Rs.12,000/- where an amount of debt due is Rs.10.00 lakhs,
Rs.12,000 plus Rs.1000 for every one lakh of debt due or part thereof in
excess of Rs.10.00 lakhs subject to a maximum of Rs.1,50,000/- where an
amount of debt due is above Rs.10.00 lakhs.
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What is the fee for Review Application?
The
fee for Review Application is fifty per cent of the fee paid for the OA.
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What is the fee for Interlocutory Application?
The
fee for filing Interlocutory Application (IA) is Rs.250/-.
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What is the fee for Vakalatnama?
The
fee for filing Vakalatnama is Rs.5/-.
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What is the fee for an appeal against the order of the
Recovery Officer?
Rs.12,000/- if the
amount appealed against is less than Rs.10 lakhs.
Rs.20,000/- if the
amount appealed against is Rs.10 to 30 lakhs.
Rs.30,000/- if the
amount appealed against is more than 30 lakhs.
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What is the fee for perusal of
documents?
Rs.100/- per case.
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What is the fee payable for
certified copies of documents?
Rs.5 per page.
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What is the place of filing of an Application?
The
application shall be filed by the Applicant with the Registrar within
whose jurisdiction the Applicant is functioning as a bank or financial
institution as the case may be, for the time being.
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What are the contents of the Application?
Every Application filed under Rule 4 of the DRT (Procedure) Rules, 1993,
shall set forth concisely under distinct heads, the grounds for such
application and such grounds shall be numbered consecutively and shall be
typed in double space on one side of the paper.
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Under SARFEASI Act, 2002 for actions taken by authorized
officer, appeal/application lies with whom?.
For
actions taken under sub-section (4) of Section 13 of the
Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 by the authorised officer, an application
shall lies to the Debts Recovery Tribunal - I, Chennai under section 17(1)
of that Act.
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