Cause Lists
Stuck in Cash crunch? Looking for alternative finance to bounce back? Call Mrs. Sharma on 080-49538322 or 8884342463.
WhatsApp us on: +91-9968265868
On Auction M&A Options Assets-Wanted Investment-Options Services Judgments Legal Query Event Gallery
Welcome Guest. Please Register Members, login  
Tribunal Address
4th Floor, Hudco Building, 15-N, Nelie Sengupta Sarani, New market Complex, Phase-1, Kolkatta- 700087

Location Map
DRAT Photo

Officer's List
Notice Board
Holidays List

Chair Person

Cause List
Choose a Bench

Choose Date

DRT Laws
DRAT Rules
DRT Rules
DRT Regulations
Other Acts
Information Desk
Legal FAQs
Auction Rules
Grievance Desk
RBI Notifications
Legal Dictionary
Official Liquidator
Gazette Notifications
Courts & Judiciary
Ombudsman Scheme

Cause Lists
Holiday List

BankDRT Workshops
Auction Participants
Borrowers/ Asset Owners
Trade Associations
Recovery Officers/ Auction Officers/ Authorized Officers

Due Diligence
Debt Restructuring
Asset Advertise
Asset Resolution
M & A

Group Therapy
Bar Association
MSME Association
Borrowers Association

Subscription Fee
Payment Modes

Photo Gallery
About us
Join Us
Post an Article
Contact Us

DRAT Kolkata

DRAT Kolkata was eastablished vide GSR No: 257(E) 24-3-2000. The territorial jusrisdiction of the Hon`ble Tribunal covers Over Debt Recovery Tribunals at Cuttak, Guwahati, Patna, Kolkata-1, Kolkata-2, Kolkata-2, Hyderabad, Vishakapatnam and Ranchi.

Hon'ble Justice Arunabha Barua

Hon'ble Justice Barua is Chairperson of Debts Recovery Appellate Tribunal (DRAT) Kolkata

Employee Directors could become vicariously responsible for company loans

To be designated as a director in a company is a great feeling and does good to ones ego too. But some employees who are designated as directors becomes guarantors to the loans taken by the company and end up virtually as criminals on the run.


OTS is available only to pending cases.

The Benefit of One "Time Settlement Scheme", popularly known as "OTS", is available only to cases which are still pending for adjudication. Cases that have been disposed off are not entitled for benefit of the scheme. This was held by the Hon'ble Delhi High Court while considering a plea that the petitioner has unjustly been denied the benefit of the OTS even though the bank's very own circular says that the scheme should be extended to even those that cases which are before the Debts Recovery Tribunal or the Debts Recovery Appellate Tribunal. The Court has held that the circulars issued by the Bank are not directions within the meaning of the Banking Regulations Act.


DRTs cannot adjudicate any claim of the bank.

DRTs cannot decide any and every claim of a bank. The Bank’s claim must be within the meaning of the word ‘debt’ as defined in the RDB Act. If the claim does not satisfy the definition of ‘debt’, the DRTs are denuded of their jurisdiction to hear such claims and the Banks must be advised to approach the civil courts.


  1. DRT Pune orders arrest for enforcing orders.
  1. CMM need not hear the owner of asset.
  1. Can there be pre-deposit even if no debt has been determined?
  1. Bank Officers should carefully examine the title deeds being deposited by borrowers :: DRT-2 Chennai.
  1. DRAT can modify rate of interest pendent elite
  1. Non compliance with illegal orders is not contempt.
  1. Bank must produce original title deed for claiming equitable mortgage on the property.
  1. Debts Recovery Tribunals cannot use their discretionary powers to reduce interest pendende lite.
  1. Merely denying banks accounts is of no use
  1. DRTs can fix rate of interest.
  1. Borrower is deemed to have signed the documents after reading and understanding the document.
  1. Bank is entitled to claim only agreed rate of interest.
  1. Financial jurisdiction of DRT does not change with the change of amount adjudicated.
  1. Where the bank has suppressed material evidence it is not entitled for any relief
  1. Allegations of embezzlement should not be made loosely
  1. Presence of a Notary Public is satisfactory
  1. Contempt notice to PO DRT Hyderabad
  1. AP High Court admits PIL against Presiding Officer DRT Hyderabad.
  1. Now an PIL for appointment of PO DRT Bangalore.
  1. PO DRT Bangalore placed under suspension. Details awaited.
  1. Decks cleared for proceedings against former PO DRT Ahmedabad.
  1. Limitation for enforcing foreign judgments is three years.
  1. The DRT must adjudicate the claim of the applicant only.
  1. Limitation for enforcing foreign judgments before DRTs is 3 years.
  1. Employee-Directors cum guarantors are liable for repayment of the whole of the loan amount
  1. DRTs cannot adjudicate any claim of the bank.
  1. Amount resulting from fraud is also a debt.
  1. Stakes for crown debts should be made before the Recovery Officer.
  1. Tenancy has to be properly proved as per law.
  1. Stakes for crown debts should be laid at the time of Recovery Proceedings.
  1. Third parties do not have a locus standi to meddle into disputes between a Bank and its borrowers.
  1. Agreement necessary for arbitration of case between AMC and Bank
  1. DRAT can modify rate of interest pendent elite
  1. In case of Frauds DRTs must help in punishing the culprits.
  1. Auction purchasers beware -Auction Notice under SRFAESI Act should contain mandatory details
  1. Every act of Bank under SRFAESI Act gives raise to an fresh cause of action.
  1. Recovery Officer cannot impound passport.
  1. Guarantors are co-extensively responsible.
  1. Objection cannot be raised for the first time before DRAT.
  1. Litigant cannot be made to suffer due to negligence of his counsel.
  1. Guarantors have no say to seek priority of recovery.
  1. When documents are challenged, DRT must seek expert evidence.
  1. Don’t go for fishing expedition in DRAT.
  1. In BIFR proceedings, Guarantors cannot seek better protection than the principle borrower.
  1. Guarantors are not protected under provisions of SICA
  1. To challenge an Auction – follow the procedure
  1. A compromise deed should be a proper document
  1. A few transactions does not convert a NPA into PA
  1. DRAT Allahabad :: Unless stated, all RBI Circulars are enforceable.
  1. When jurisdiction is challenged, the same should be decided first.
  1. Unless rejected, the proposal submitted by the borrower is deemed to be under consideration of the Bank.
  1. Conscious absenteeism from proceeding before DRT uncondonable
  1. A few transactions does not convert a NPA into PA
  1. When the borrower does not deserve even sympathy
  1. Indian Evidence Act not applicable to DRTs
  1. DRTs fume at pleas for cross examination as delaying tactic.
  1. Commissioners are to protect interests of secured creditors
  1. Uncontested claim of a Bank results in full amount being decreed.
  1. Auctions below upset price are not permitted.
  1. Basic right of borrowers under SRFAESIA- to file a representation against seizure notice.
  1. First right of a defendant under SRFAESIA- to be replied to by the Bank.
  1. Banks can club all their claims against a person in a single application before the DRT.
  1. Debt Recovery Tribunal ( DRT ) need not frame issues for cases before them.
  1. Jurisdiction of High Courts over DRATs depends on the cause of action
  1. The Debt Recovery Tribunals should hear the parties.
  1. Adjournments before DRTs should be a rarity.
  1. DRTs cannot be expected to grant adjournments merely for the asking.
  1. Has the Government unjustly sided the banks with SRFAESIA ?
  1. MARDIA ne SRFAESIA ko Mardia ?
  1. Auction & Sale of Properties by Public Financial Instititutions should be in the best interest of the Institution.
  1. Receivers who do not act in the best interest of the properties placed in their hands can be prosecuted.
  1. Recovery Officer of a DRT is bound by Schedule II of the Income Tax Act
  1. The Recovery Officer of a DRT cannot arrest a lady defaulter.
  1. Powers of DRTs are limited where Companies are under liquidation.
  1. The DRT Commissioner has right of way over the Official Liquidator
  1. Plural remedies no longer applicable even to pending proceedings
  1. Multiple transactions does not amount to plural remedies
  1. Consumer Court are not forums over DRTs
  1. Proceedings can go on in Consumer Court as well as in DRT
  1. Tribunals cannot pass Garnishee orders on parties who do not have dispute with the Banks
  1. Auction of properties, should be above board.
  1. SRFAESI - needs securitisation
  1. Jurisdiction Issue should be settled first
  1. Banking Ombudsman & DRT Act are different and Exclusive – Proceedings between two parties based on the same facts can go on simultaneously before the two forums.
  1. Tribunals are important mechanism for the administration of justice -SC
  1. Cross Examination of Witnesses in Tribunal not compulsory
  1. DRATs are under jurisdiction of multiple High Courts
  1. How to challenge the order of a Recovery Officer of Debts Recovery Tribunal?
  1. Settlement between Creditor & Debtor cannot be disputed.
  1. Can any one access Insolvency resolution process of a company?
  1. Do employees have a right know the resolution process of their company?
  1. Do not ignore environment cries against your business.
  1. Supreme Court declines any relief for violation of its Orders on SARFAESI Act.
  1. Whether a mortgagor can approach the DRT against proceedings initiated by a Bank, even though he is in possession of the secured Asset?
  1. Can the state Government conduct audit of a cooperative bank?
  1. Pre-deposit of debts due for filing an appeal in the DRT is a limiting factor for justice!
  1. Relief for Bank Customer under Consumer Protection Act
  1. OTS is a win win methodology to solve debt problem.
  1. Caught with hits pants down, HSBC Bank agrees to pays $ 101 million to ward of criminal proceedings
  1. Buy assets at bank auctions only after due diligence
  1. No money to put up for litigation? Consider indigence route!
  1. Relief for Bank Customer under Consumer Protection Act
  1. Took a loan? Repay it first. Rest await civil courts Orders.
  1. Parties can change advocates at any time without a need for NOC from earlier advocate.
  1. Auction purchaser in limbo as Madras HC sets aside an auction after 12 years after the auction.
  1. Madras HC orders CBI probe against DRT-1 Delhi & Ors.
  1. Non-Advocates cannot practice serially before DRT
  1. DRT restrains directors of defaulter company from travelling abroad
  1. DRAT have powers to condone delays in filing appeal : SC
  1. Chandigarh HC orders scrutiny of records of Debts Recovery Tribunal at Chandigarh and immediate setting up of web site.
  1. The RBI has powers to define the parameters of NPA
  1. Procedure for declaring a defaulter as willful defaulter should be scrupulously followed : Calcutta HC
  1. Government issues tooth less Orders on debt relief!!
  1. NCDRC puts brakes on reckless charging of interest by banks under the floating rate of interest
  1. OTS with bank does not mean removal of name from special watch list by ECGC.
  1. Clamour to extend SARFAESI Act to NBFCs grows.
  1. Chief Judicial Magistrate not competent to seize properties under SARFAESI Act.
  1. Wrongly attached properties can be opposed
  1. Tenants cannot be evicted from a property under the SRFAESI Act
  1. Guarantors beware you have no protection before DRTs.
  1. Consumer forum asks ICICI Bank to pay Rs 75,000 to complainant
  1. MM holds Bank’s claim ‘extortion’
  1. Intervener would be liable for losses at auction.
  1. Stamp duty on auction amount only to be paid: Allahabad HC
  1. NI 138 Notice Should be Not be Vague
  1. Blaming advcoate for delay in filing the appeal is not a good idea, Sir jee!
  1. Non compliance with S. 13(2) notice results in auction of securities.
  1. DRTs can vary rates of interest even in compromised matters.
  1. The DRTs cannot enlarge the demand from what was sought in the S. 13(2) Notice
  1. Consent and limitation are no bar for challenging a unlawful compromise
  1. If a compromise has two portions, lawful and unlawful, the lawful can be enforced and the unlawful ignored.
  1. Unlawful Compromise is unenforceable.
  1. DRAT cannot waive off pre-deposit of debt due for admitting an appeal u/s 18 of the SARFAESI Act.
  1. Complicated recording of evidence has to be done by DRTs
  1. Bank need not reply to representation within a week.
  1. Borrowers can seek relief on interest payable for the litigation period.
  1. Writ Petition is not maintainable against initiation of proceedings u/s 13(2) of the SRFAESI Act.
  1. Claim against the principal borrower need not be crystallized for proceeding against the guarantor.
  1. When sick, talk to your bank.
  1. If there is no mention of the rate of interest in either the Loan Agreement or in the Promissory Note, then interest at 18% pa should be charged .
  1. Supreme Court reduces interest rate for litigation periods.
  1. Compromise must be given effect to if the borrower was made to act on it.
  1. A contract between a Bank and Borrower has to be enforced.
  1. Stay of recovery proceedings does not mean putting borrower back into possession of the assets.
  1. Without pre-deposit an appeal cannot be entertained : SC
  1. Can recovery proceedings be taken against a company which is before BIFR?
  1. Banks cannot recklessly exercise their powers under SRFAESI Act.
  1. Dues of a Government company are not dues of the Government.
  1. Liberal construction should be granted to beneficial statues: SC.
  1. There is no need to invoke SRFAESI Act if the Bank’s money can be recovered equally fast
  1. Auction of assets behind the back of Official Liquidator is fatal to an auction.
  1. SFC cannot proceed against the guarantors directly.
  1. Agricultural land cannot form security for SRFAESI Act.
  1. Guarantor wholly responsible for the due discharge of the loan: SC
  1. A Borrower has no say in the sale of NPAs.
  1. Employee Directors could become vicariously responsible for company loans
  1. Kerala High Court’s fresh approach on Securitisation proceedings.
  1. SC larger bench to decide on loans against leased Govt. land.
  1. Cannot take Bank’s money and go away.
  1. From debt to death - Recovery goons beat borrower to death.
  1. Admitted amount can be recovered without waiting for the Recovery Certificate.
  1. Disputes between Crown and Secured claimants needs adjudication.
  1. No harm if DRT accepts 2nd statement of defense in transferred matters.
  1. Revenue Recovery Act can be invoked to execute decrees: Kerala High Court
  1. A pending EP no bar to proceedings under SRFAESI Act
  1. A sad commentary on the functioning of the Debts Recovery Tribunal.
  1. Kolkata High Court strikes down willful defaulter tag
  1. OTS scheme can be directed where borrower is sincere.
  1. Co-op Banks out of DRT net
  1. High Court is not the Right Forum to challenge proceedings under SRFAESI Act.
  1. Re-auction is the only remedy for Irregular Auction.
  1. Recoveries can be made in terms of contract between the parties.
  1. An irregular auction cannot be sustained.
  1. Latches – detrimental to auction
  1. Asset can be sold below the Reserve price also.
  1. Sale below reserve price is not illegal.
  1. Should Recovery Proceedings by Banks need monitering?
  1. Debts Recovery Tribunal cannot ask the lessee to pay more than the indenture amount.
  1. Arraign all the parties to secure full justice.
  1. DRT cannot ask the lessee to pay more than the indenture amount.
  1. Appeal to DRT under SRFAESI Act to be charged as per DRT Rules:: SC
  1. What should lthe limitation be for filing recovery claims?
  1. Civil Courts cannot grant injunctions against Banks :: SC
  1. Borrowers free to pursue against the Lenders: SC
  1. Borrowers can pursue independent actions against the Lenders: SC
  1. Courts take a dim view of delaying tactics
  1. Costing of suits – Court fees should not be included.
  1. Proceedings before DRT is no bar for other proceedings to go on
  1. When setting aside a auction – sale, grant of interest to auction purchaser is the discretion of the Court.
  1. Hammer the best price out of auctions.
  1. SFC can initiate action till the assets are free.
  1. Lease hold land are not good titles of owner ship of land. Lending agencies should be careful.
  1. Recovery Officer cannot decide the properties to be attached and sold.
  1. Recovery Officer cannot attach State Funds with the RBI.
  1. Unreasonable delay in return of documents is a deficiency of service
  1. OTS is available only to pending cases.
  1. All that glitters is not diamonds. IT Department learns !
  1. No need to transfer a case to Debts Recovery Tribunal where a particular case was decreed before the issue of notification under the RDB Act
  1. No special clauses for tenants in DRT Act
  1. Guarantors can peruse Appellate Remedies on their own
  1. Workmen’s Dues before Debt Recovery Tribunal
  1. Death of a borrower will not effect proceedings intiated under SRFAESIA
  1. The Debt Recovery Tribunal cannot re-open, or re-examine, or re-call an order already passed by the High Court earlier.
  1. Small industrialists miss out CGTSI benefits due to poor awareness.
  1. Strong message from DRT Mumbai - Exercise Powers with Responsibility.
  1. Contempt proceedings - Limitation starts from the day the contemptuous act became known.
  1. Notice under SRFAESIA is of crucial importance.
  1. Limitation starts on the day the loan recall notice is issued.
  1. Civil Courts loose jurisdiction if value of Execution Petition reaches Rs. 10 lakhs.
  1. Tribunals should be slow & cautious while granting ad-interim ex-parte orders.
  1. Proceedings under SRFAESIA cannot take place when BIFR is seized of the issue.
  1. Jurisdiction of a Recovery Officer - cannot transgress that of the DRT.
  1. Mardia Hearing Starts – ex-parte stay given
  1. Workmen’s Dues before Debt Recovery Tribunal
  1. Where Claim is not opposed - no need to appoint a Receiver
  1. Claim will be decreed where defence admits the loan amount -

This is your page !!!!, click to know how

Member's Login
User ID

Forgot Password ?

Think it over
The nobler a man, the harder it is for him to suspect inferiority in others.
Marcus Tullius Cicero

Subscribe to
BankDRT's Newsletter

Enter your email address

Delivered by FeedBurner

See Details