Debts Recovery Tribunal (DRT) was created under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. It is also under the Secularization and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, 2002. Under this, the loans of any bank or financial institution, if not paid by the borrower, becomes a bad debt. The bank or the financial institution first issues the notice for recovery of the said loan. After the notice, the bank initiates the process of recovery of the loan. These proceedings are initiated under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993.
Natraj Legal Solutions helps the clients in various legal aspects to recover lost money by sending a legal notice & filing recovery suit in respective Debt Recovery Tribunal Court & District court and If needed then High Court or Supreme Court of India.