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TMI BlogUnion Finance Minister to Inaugurate the Conference of the Chairpersons of Debts Recovery Appellate Tribunals (DRATS) and Presiding Officers of Debts Recovery Tribunals (DRTS) Tomorrow.X X X X Extracts X X X X X X X X Extracts X X X X ..... Union Finance Minister to Inaugurate the Conference of the Chairpersons of Debts Recovery Appellate Tribunals (DRATS) and Presiding Officers of Debts Recovery Tribunals (DRTS) Tomorrow. - News and Press Release Dated:- 6-6-2012 - News - Press Information Bureau Government of India Ministry of Finance 05-June-2012 19:10 IST Union Finance Minister to Inaugurate the Conference of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Chairpersons of Debts Recovery Appellate Tribunals (DRATS) and Presiding Officers of Debts Recovery Tribunals (DRTS) Tomorrow The Union Finance Minister Shri Pranab Mukherjee will inaugurate the Conference of the Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debts Recovery Tribunals (DRTs) here tomorrow. During the daylong Conference, the Chairpersons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of DRATs and Presiding Officers of DRTs are likely to study, analyse and recommend legal, organisational and administrative measures required to remove the bottlenecks and challenges before these Tribunals so as to ensure that the purpose of expeditious and speedy recovery of the public money is achieved. Presently large amount of debts due to banks is outstanding and there have been delays in de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciding the cases by DRTs. The Recovery of Debts due to the Banks and Financial Institutions Act,1993 (RDDBI Act) was enacted to provide for the establishment of Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) for expeditious adjudication and recovery of debts due to banks and financial institutions. At present, there are 33 DRTs and 5 DRATs. DRAT is the appellate aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hority to hear and dispose of appeals arising out of the decisions of the DRTs. As per the provisions of the Recovery of Debts due to the Banks and Financial Institutions Act, 1993 (RDDBI Act), the DRTs are to make an endeavour to decide the case is 180 days. But due to large number of cases being filed in the DRTs and other legal and administrative constraints, large number of cases are pending ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the DRTs. The Department of Financial Services has started the practice of regular interaction with the Registrars of DRATs/ DRTs and Recovery Officers of DRTs to address the issues resulting in delays in deciding the cases. Discussions have also been held between the Recovery Officers and the Senior Officers of the Banks to sort out the inter organisational issues so that delays on the part o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Banks could be avoided. *** DSM/Hb - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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