In this post we will discuss a DRAT appeal wherein it was held in the following case that the view that notice to the borrower under rule 8(6) of the Security Interest (Enforcement) Rules, 2002 is a mandatory requirement laid down by the statute, and failure to issue such a notice would vitiate the auction … Read more
In this post we will discuss about the the deposit amount under section 21 of Recovery of Debts due to Banks and Financial Institutions Act, 1993 fo filing an appeal in Debt Recovery Appellate Tribunal. Supreme Court already has held that Borrower Has To Pre-Deposit 50% Of The “Debt Due” In Appeal Under Section 18 … Read more
When borrowers cannot pay promised interest or principal on time, creditors can initiate steps to recover debt. Bankruptcy laws determine the process by which recovery proceeds. This note describes and discusses some features of the recovery process in India, focusing on debt recovery tribunals (DRTs) and debt recovery appellate tribunals (DRATs). We touch upon the … Read more
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