debt recovery tribunal

The Supreme Court has ruled that criminal proceedings against loan defaulters must cease if a settlement is reached with the bank. Such actions, the court stated, are oppressive and abuse judicial processes, potentially harming the economy. Allowing banks to pursue criminal cases after a compromise undermines settlement sanctity and discourages dispute resolution.

The matter was heard by a Bench of Justice Ahsanuddin Amanullah and Justice R. Mahadevan in a Special Leave Petition filed by M/s Bhaskar International Private Limited and others against SBI. M/s Bhaskar International Private Limited v. State Bank of India

Major ₹2.5cr Bank of Maharashtra Settlement Finalised

In a significant ruling, the Bombay High Court has dismissed the FIR against HDFC Bank's CEO, Sashidhar Jagdishan, and other associates, initiated by the Lilavati Hospital Trust. The court characterized the lawsuit as a retaliatory measure amidst ongoing financial disputes among the trustees, emphasizing the importance of unfettered recovery processes in the banking sector.

The government today approved setting up of six new debt recovery tribunals (DRTs) to expedite cases pertaining to bad loans.

The decision to double the limit to Rs 20 lakh for filing applications in debt recovery tribunals will help them focus on high-value matters leading to a quicker recovery of bad loans, the Finance Ministry said Tuesday.

The banks had sought a recovery certificate from the DRT under Recovery of Debt Due to Banks and Financial Institutions Act, 1993.

Delhi High Court expressed concern over the proposed auction of Raisina Bengali School, deeming it a public interest issue. The court indicated a willingness to stay the auction proceedings pending before the debt recovery tribunal, but required the tribunal to be made a party to the petition.

The Debts Recovery Tribunal (DRT) is well within its rights to impound the passport of a defaulter to prevent him from leaving the country, the Madras high court has ruled.

For the first time the debt recovery tribunal (DRT) office under the Union ministry of finance witnessed a complete strike on Saturday.

MUMBAI: In a bid to clear the backlog of pending cases, the Reserve Bank of India will institute five more debt recovery tribunals (DRTs) in Maharashtra. Four of the DRTs will be in Mumbai while the remaining one will be based in Nagpur.

Over 2,700 debt recovery cases are pending with two debt recovery tribunals (DRTs) in Hyderabad. Though debt recovery has increased, it still hasn't picked up significantly due to Covid-19.

One has heard of courts restraining private banks from using force to save debts from turning bad.

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Estate agent, Alok Dinesh Tanna, who allegedly made a hoax call to the police control room regarding a possible blast at the debt recovery tribunal (DRT) at the Income Tax building in Ballard Pier to postpone a property auction verdict, has been granted bail by the court.

The Debts Recovery Tribunal (DRT) in Hyderabad on Thursday directed Deccan Chronicle Holdings Ltd (DCHL) not to alienate its assets to third parties until further orders.

The Lucknow bench of Allahabad High Court on Tuesday expressed anguish that the Central government is not filling posts of presiding officers in debt recovery tribunals (DRTs) and debt recovery appellate tribunals (DRATs) across the country.