Understanding Debt Recovery Tribunal Kolkata
The Debt Recovery Tribunal Kolkata handles recovery of debts due to banks and financial institutions. Established under the Recovery of Debts Due to Banks and Financial Institutions Act 1993 it has jurisdiction over Eastern India.
Frequently Asked Questions
What is DRT jurisdiction?
Debt recovery applications by banks for amounts exceeding Rs. 20 lakh. Covers Eastern India.
Who can file claim before DRT?
Banks financial institutions and public financial institutions for recovery of debts.
What is limitation period?
3 years from date debt became due unless account classified as NPA within limitation period.
What defenses can borrowers raise?
Dispute debt amount claim time-barred challenge interest rate argue improper procedure.
How to appeal DRT order?
Appeals to DRAT within 30 days. From DRAT appeals to Calcutta High Court.
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