DRT & DRAT Practice

The Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) are specialised forums dealing with matters arising under the Recovery of Debts and Bankruptcy Act, 1993 and, in applicable cases, the SARFAESI Act, 2002.

The firm undertakes matters before DRTs and DRATs involving banks, financial institutions, asset reconstruction companies (ARCs), corporate borrowers, guarantors, promoters and individual borrowers, as applicable to individual matters.

Debt Recovery and Banking Proceedings

Matters may include proceedings for recovery of outstanding dues, enforcement of security interests, Recovery Certificates and related recovery actions. The firm's practice may include Original Applications (OAs), recovery proceedings, execution proceedings and matters before Recovery Officers.

Borrower and Guarantor Matters

Matters may include proceedings concerning recovery actions initiated by lenders, issues relating to liability and security interests, debt restructuring, settlement arrangements and other remedies available under applicable law.

SARFAESI Proceedings

The firm's practice may include matters arising under the SARFAESI Act, 2002, including demand notices, possession notices, symbolic or physical possession, auction proceedings, valuation issues and other measures taken by secured creditors. Such matters may include applications challenging or defending measures taken under the applicable provisions of the SARFAESI Act before the appropriate tribunal.

Appeals Before DRAT

Matters may include appeals against orders passed by DRTs, applications for interim relief and issues concerning statutory pre-deposit requirements and other appellate procedures prescribed under applicable law.

Banking, Insolvency and Commercial Matters

Debt recovery proceedings may involve issues relating to insolvency, restructuring, corporate finance and commercial transactions. The firm's practice may include matters concerning debt restructuring, One-Time Settlement (OTS) arrangements, stressed assets and proceedings involving the Insolvency and Bankruptcy Code, SARFAESI Act, Companies Act and other applicable financial laws.

Related Dispute Resolution

Depending upon the nature and circumstances of a matter, banking and debt-recovery disputes may also involve negotiation, mediation, conciliation, arbitration, settlement proceedings or other applicable dispute-resolution mechanisms.

Nature and Scope of Work

The nature and scope of work undertaken in any DRT, DRAT, debt-recovery or SARFAESI matter depends upon the facts and circumstances of the matter, the applicable legal and regulatory framework and the professional responsibilities applicable to advocates.