Definition
The appellate forum for orders passed by the Debt Recovery Tribunal (DRT). An appeal to DRAT must be filed within 30 days of the DRT order. A pre-deposit of 50% of the debt amount is mandatory for borrowers who wish to appeal (this threshold may be reduced by the DRAT for good cause). DRAT orders are challenged before the High Court.
Related Terms
DRTRecovery CertificateOriginal Application
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Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates