Definition
A specialised quasi-judicial tribunal established under the Recovery of Debts and Bankruptcy Act, 1993 (RDDB Act) for the adjudication of claims by banks and financial institutions for recovery of debts above ₹20 lakhs. DRTs have jurisdiction over Original Applications filed by creditors, Section 17 SARFAESI challenges filed by borrowers, and applications related to the IBC.
Related Terms
RDDB ActOriginal ApplicationRecovery CertificateDRAT
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Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates