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| Definition | : | Debts Recovery Tribunal |
| Category | : | Business » Banking |
| Country/ Region |
: | India
|
| Popularity | : |
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Debts Recovery Tribunal (DRT) have been established by the Government of India under an Act of Parliament (Act 51 of 1993) for expeditious adjudication and recovery of debts due to banks and financial institutions. DRT speed up the recovery in the case of Non-performing assets of Banks and Financial Institutions. DRT is also the appellate authority for appeals filed against the proceedings initiated by secured creditors under the Securatizaton and Reconstruction of Financial Assets and Enforcement of Security Interest Act.
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The full form of DRT is Debts Recovery Tribunal