>
DRAT / DRT
Cause Lists
:: BankDRTs capsule workshop for Borrowers & Asset Owners on 29.10.2017 at Mumbai ::
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  
 
DRT Laws
DRT Act
DRAT Rules
DRT Rules
DRT Regulations
SARFAESI Act
SARFAESIA Rules
Other Acts
Judgments
Information Desk
RTI
Blog
Forms
Legal FAQs
Auction Rules
Grievance Desk
RBI Notifications
Legal Dictionary
Official Liquidator
Gazette Notifications
Courts & Judiciary
Ombudsman Scheme

Tribunals
DRTs/ DRATs
Holiday List

Cause List
Choose Tribunal


Choose a Bench


Choose Date




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

Services
Legal
Investment
Funding
Due Diligence
Debt Restructuring
Valuation
Asset Advertise
Asset Resolution
M & A
FADS

Group Therapy
Bar Association
MSME Association
Borrowers Association

Subscription
Subscription Fee
Payment Modes

Miscellaneous
Photo Gallery
About us
Join Us
Internship
Publications
Post an Article
Disclaimer
Contact Us


Borrowers Association

Time has to come to help borrowers protect their legal and Constitutional rights. What are borrowers rights?

If the borrower is not a willful defaulter or fraudster or thief of public money, then he entitled for following safeguards :

He should be dealt with respect and dignity at all levels and not treated like a thief.

He should be allowed to make a submissions of his case in full measure and should not be brow beaten.

Courts, RBI, Banks and every other Forum should provide all possible help to the borrower to collect data in support of his case. As compared to Banks borrower is a small individual and he should not be denied access to documents and information on any ground.

Law of damages, lenderís liability, novations of contracts, counter claims, and fixation of costs for causing mental harassment should be adequately heard and proper orders passed.

The Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 should be adequately amended to enable borrowers to be heard in single suit, rather than making the borrower go to the civil courts after protracted hearings.

Why borrower needs help?

Banks have set up highly specialized and dedicated Asset Reconstruction and Management Branches. These branches are dedicated for the recovery of Non Performing Asset of all branches under their control.

Banks have now dedicated teams of highly trained and specialized staff in the felid of recovery of Non Performing Assets. These range from the ranks of ordinary clerical staff right upto the Board levels.

There is a committee in the Government that monitors Non Performing Asset and has the powers to issue instructions to various authorities including DRTs on taking corrective actions.

There is a huge net work of Recovery Agents, Recovery Agencies, and Asset Reconstruction Firms, many of them with dubious backgrounds and even more dubious staff ready to visit borrowerís houses and do ďthe recoveryĒ.

Banks have been using Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SRFAESI) Act, 2000 freely, in many cases recklessly, when all they needed was mere recovery of their dues and the borrower was prepared to pay back.

In many cases some bank officials are in league with the Recovery Agents to appropriate prime properties at throw away prices.

In comparison a borrower is a puny individual, almost bankrupt, not even in a position to engage a small time counsel leave alone engaging powerful law firms, fight across multiple forums, pre-deposit mind boggling amounts, spend huge amounts on paper books, service charges and hundred other things apart from taking time of his pressing domestic and business activities.

BankDRT desires to make a small contribution to mitigate the problems faced by the borrowers. For a small, nominal one time fee, BankDRT will provide the following assistance to the Association/ Members of the Association:
  1. Free access to the association to premium legal modules of the site.
  2. Office bearers of the Association will be given free training in our office under our capsule work shop.
  3. Members of the Association will be given FREE empirical guidance and advise.
  4. For a nominal Fee of Rs. 3000/- our experts will examine case documents and records and give case specific advise.
  5. Legal experts and heads of Legal Department of BankDRT will take Q&A session with members of the association through video conferencing absolutely FREE of costs.
  6. BankDRT will depute experts to address meetings of the Association and also conduct training sessions at the local place of the borrowers.
  7. For a nominal fee BankDRT experts will draft appropriate applications where ever considered necessary.


We believe the borrowers need to be helped to get justice at a nominal costs. Interested? Then form a association in your area. We will do the rest. We will even help you get in touch with other borrowers in your area. Get back to us.








Member's Login
User ID
Password

Forgot Password ?

Think it over
While I can run, Iíll run; while I canwalk, Iíll walk; whenI can only crawl, Iíll crawl. But by the grace of God, Iíll always be moving forward.
Cavett Robert


Subscribe to
BankDRT's Newsletter

Enter your email address for Auction Alerts :


Enter your email address for Judicial Alerts :

Delivered by FeedBurner