REDEMPTION DRAT APPEAL
A “Redemption DRAT Appeal” refers to a borrower’s appeal to the Debt Recovery Appellate Tribunal (DRAT) challenging a Debt Recovery Tribunal (DRT) order, often related to their right to “redeem” mortgaged property under the SARFAESI Act, usually involving strict timelines (30-45 days) and depositing a percentage (often 50%, sometimes reduced to 25%) of the debt as a pre-condition, with … Read more
