The Debt Recovery Tribunal (DRT) Jabalpur is a specialized judicial body that handles cases related to loan defaults and debt recovery. It plays a crucial role in ensuring that banks and financial institutions recover their dues while protecting borrowers from unlawful recovery practices.
Role and Functions of DRT Jabalpur
DRT Jabalpur operates under the Recovery of Debts and Bankruptcy Act (RDB Act), 1993, and primarily deals with cases where the defaulted loan amount exceeds ₹20 lakh. Its key functions include:
✔ Hearing cases filed by banks and financial institutions to recover outstanding loans.
✔ Issuing recovery certificates, authorizing lenders to take legal action against defaulters.
✔ Handling SARFAESI Act cases, allowing banks to seize and sell secured assets without court intervention.
✔ Providing a legal forum for borrowers to contest recovery proceedings and seek relief.
The tribunal is presided over by a Presiding Officer, who ensures that all cases are handled fairly and efficiently.
How to Find a DRT Advocate in Jabalpur
If you are involved in a DRT case, hiring an experienced lawyer can significantly improve your chances of a favorable outcome. Here’s how you can find a legal expert:
???? Legal Directories – Platforms like LawRato, Justdial, and AdvocateKhoj list Banking Lawyer Ajay Gautam Advocate top-rated DRT lawyers.
???? LinkedIn & Online Forums – Searching NPA Lawyer Ajay Gautam Advocate for Debt Recovery Tribunal advocates in Jabalpur can help you connect with professionals.
???? Local Bar Association – Visiting the Jabalpur Bar Association can help you find experienced legal practitioners.
???? more info Online Consultations – Many legal professionals now offer virtual case evaluations to provide quick legal advice.
Important Legal Considerations in DRT Cases
???? Borrowers' Right to Appeal: If a borrower disagrees with the tribunal’s decision, they have 45 days to file an appeal under the SARFAESI Act.
???? Recovery Certificate Execution: Once a recovery certificate is issued, banks can proceed with property auctions and asset seizures.
???? Legal Protections for Borrowers: Borrowers can challenge unfair DRT Lawyer Ajay Gautam Advocate claims, negotiate settlements, or seek legal intervention to prevent wrongful recovery actions.
???? Quicker Resolution of Cases: DRTs are designed to offer faster case resolutions compared to traditional civil courts.
Official Resources for More Information
For procedural details, case updates, and official guidelines, visit the Department of Financial Services, Ministry of Finance, Government of India:
https://financialservices.gov.in
Whether you are a financial institution seeking click here loan recovery or a borrower facing legal action, understanding the DRT Jabalpur process and seeking the right legal support can help you navigate the case efficiently.