The Debt Recovery Tribunal (DRT) in India is constituted under the provisions of the Recovery of Debt Due to Banks and Financial Institutions Act, 1993.
Composition and Constitution of the DRT
Establishment
The central government has the authority to establish one or more DRTs in different parts of the country. The exact number and locations of the DRTs are determined by the government based on the need and workload.
Presiding Officer
Each DRT is headed by a Presiding Officer, who is typically a judicial officer of the rank of a District Judge. The Presiding Officer is appointed by the central government in consultation with the Chief Justice of the High Court.
Jurisdiction
A DRT has jurisdiction over cases related to the recovery of debts due to banks and financial institutions. It handles matters where the outstanding debt amount exceeds a specified threshold, which is determined by the central government.
Administrative Staff
The DRT is supported by a registrar and other administrative staff appointed by the central government. These staff members assist in managing the day-to-day operations and functioning of the tribunal.
Appellate Authority
If a party is dissatisfied with the order or decision of the DRT, they can file an appeal before the Debt Recovery Appellate Tribunal (DRAT). The DRAT is a higher authority that reviews the decisions of the DRT. It is headed by a Presiding Officer, who is usually a retired High Court judge.
Independence
The DRT operates independently and exercises its powers without any undue influence. The Presiding Officer of the DRT and the staff are expected to act impartially and in accordance with the law.