The Finance Ministry has recently notified an amendment on the Debts Recovery Appellate Tribunal, Chennai and Debts Recovery Tribunals at Ernakulam, Chennai, Madurai, Coimbatore and Bangalore Recruitment (Amendment) Rules, 2023.
In exercise of the powers conferred by section 36 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993), the Central Government amended the Debts Recovery Appellate Tribunal, Chennai and Debts Recovery Tribunals at Ernakulam, Chennai, Madurai, Coimbatore and Bangalore Recruitment Rules, 2018, in the Second Schedule, against serial number 2 in column (1), relating to the post of ‘Assistant Registrar’, in column (11), under the heading ‘Promotion’
(i) in sub-clauses (i) and (ii), for the words “seven years” at both places where they occur, the words “nine years” shall be substituted;
Further provided that for existing incumbents holding the feeder posts on a regular basis immediately before the commencement of the Debts Recovery Appellate Tribunal, Chennai and Debts Recovery Tribunals at Ernakulam, Chennai, Madurai, Coimbatore and Bangalore Recruitment (Amendment) Rules, 2023, the existing eligibility criteria, i.e., seven years shall be applicable.
Debt Recovery Tribunals (DRT) are tribunals established to facilitate the expeditious retrieval of debts due to several financial institutions and banks. Their primary goal is the recovery of loaned money from customers. The Central Government appoints the presiding officer of the DRT, who is qualified to be a district judge. The officer shall preside for five years or till age 65, whichever is earlier. An appeal against the order of the DRT is made to the DRAT (Debts Recovery Appellate Tribunal).
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