Application to DRT (Debt Recovery Tribunal) Fees Procedure and Documents Required
Applying to the Debt Recovery Tribunal (DRT): Fees, Procedure, and Documents
The Debt Recovery Tribunal (DRT) is a fast-track judicial forum in India established for speedy recovery of debts owed to banks and financial institutions. If you’re a lender seeking to recover debt through the DRT, understanding the application process, fees, and required documents is crucial. Here’s a detailed breakdown:
Fees:
- Original Application (OA): The fee for filing an OA depends on the debt amount:
- Up to Rs. 10 lakhs: Rs. 12,000
- Above Rs. 10 lakhs: Rs. 12,000 + Rs. 1,000 for every additional lakh (subject to a maximum of Rs. 1,50,000)
- Review Application: 50% of the OA fee
- Interlocutory Application (IA): Rs. 250
- Vakalatnama: Rs. 5
- Appeal against DRT order:
- Less than Rs. 10 lakhs: Rs. 12,000
- Rs. 10 lakhs to Rs. 30 lakhs: Rs. 20,000
- Above Rs. 30 lakhs: Rs. 30,000
Procedure:
- Draft the Original Application (OA): The OA must be in the prescribed format (Form O.A. 1) and include details like:
- Applicant/Bank details
- Defendant/Borrower details
- Loan agreement details
- Amount due and breakdown
- Grounds for recovery
- Relief sought
- Pay the application fee: You can pay the fee through challan, bank draft, or online payment through the e-DRT portal.
- File the OA: You can file the OA physically at the Registrar’s office of the DRT within whose jurisdiction the borrower resides or has property. Alternatively, you can file electronically through the e-DRT portal (mandatory for cases involving debts above Rs. 100 crore).
- Serve the OA on the defendant: The DRT will issue summons to the defendant to appear before the Tribunal.
- Hearing and proceedings: The DRT will hear arguments from both parties and examine evidence. Depending on the complexity of the case, there may be multiple hearings.
- Order: The DRT will issue an order, either directing the defendant to repay the debt or dismissing the application.
Documents Required:
- Original Application (OA) in Form O.A. 1
- Proof of payment of application fee
- Loan agreement and related documents (sanction letter, statements, etc.)
- Proof of borrower’s address and identity
- Any other document supporting the claim (property documents, communication with borrower, etc.)
- Vakalatnama if engaging a lawyer
Additional Points:
- It’s highly recommended to consult with a lawyer specializing in DRT matters for proper guidance and representation throughout the process.
- You can track the status of your application online through the e-DRT portal.
- The DRT website and user manual (https://drt.etribunals.gov.in/edrt/user_manual.pdf) provide detailed information on the application process and forms.
I hope this information provides a comprehensive overview of applying to the DRT. Remember, the specific details and procedures may vary slightly depending on your location and the nature of your case. Consulting with a legal professional is always advisable for navigating the complexities of debt recovery through the DRT.
Adcocate J.S. Rohilla (Civil & Criminal Lawyer in Indore)
Contact: 88271 22304
