DRAT (Debt Recovery Appellate Tribunal) is a specialized quasi-judicial body in India. It was established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDBFI Act). Moreover, it acts as an appellate authority to hear appeals against orders from Debt Recovery Tribunals (DRTs), which handle disputes related to debts owed to banks and financial institutions.
The DRAT mainly addresses repayment disputes involving loans, advances, and other financial dues. Additionally, it ensures speedy resolution of cases, protects the interests of financial institutions, and promotes fairness in debt recovery. Parties dissatisfied with DRT orders can approach the DRAT for review, modification, or reversal of the tribunal’s decision. Therefore, seeking guidance from experienced drat lawyers in delhi can help navigate these appeals effectively and avoid procedural errors.
Legal proceedings before the DRAT require strict compliance with procedural rules, timely filing of appeals, and proper presentation of evidence supporting the claim or defense. Furthermore, due to the technical and financial complexities, professional representation is often necessary. Expert drat lawyers in delhi provide effective legal support, ensure compliance, safeguard client interests, and increase the chances of a favorable outcome. Overall, DRAT plays a crucial role in strengthening India’s credit system, holding borrowers accountable, and maintaining confidence in the banking and financial sector.
