What is the minimum limit for DRT?
The minimum limit for filing a case in a Debts Recovery Tribunal (DRT) is 20 lakh rupees. This means that a bank or financial institution can only file a case in a DRT if the amount due from the borrower is more than 20 lakh rupees.
This limit was increased from 10 lakh rupees to 20 lakh rupees in 2018. The increase in the limit was aimed at reducing the pendency of cases in the DRTs and making them more efficient.
However, there are some exceptions to the minimum limit for filing a case in a DRT. For example, a borrower can file a case against a bank or financial institution in a DRT if the bank or financial institution has wrongfully foreclosed on the borrower’s property or has charged the borrower excessive interest rates.
If you are considering filing a case in a DRT, it is important to consult with an experienced lawyer to determine whether you meet the minimum limit and to discuss your legal options.
Adcocate J.S. Rohilla (Civil & Criminal Lawyer in Indore)
Contact: 88271 22304