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DRT allows Karur Vysya Bank to recover ₹99.81 Lakh from Defaulting Borrower, Issues Recovery Certificate [Read Order]

The Debts Recovery Tribunal (DRT) has allowed an Original Application filed by the applicant, which has enabled the recovery of ₹99,81,419.26 from...

Subsequent Purchaser Cannot Defeat Prior Mortgage: DRT Delhi Dismisses Securitisation Application...

Civil Court Can Entertain Partition Suit Despite SARFAESI Proceedings If DRT Cannot Grant Such...

Right to Redemption of Property is Lost After Sale: DRT Dismisses Securitization Application [Read...

Dispute Between Financial Institutions to Be Resolved Through Statutory Arbitration: DRT Dismisses...

Recovery of Rs. 37 Lakhs Allowed, Assets to be Sold if need be: DRT Decides Ex-parte

The Debts Recovery Tribunal (DRT) - III, Chennai heard an original application ex-parte and allowed the recovery of Rs.37 Lakhs, even if the defendant needs to sell assets secured. Also...

Failure to Repay SBI Car Loan: DRT Orders Repayment with 11.25% Interest, Upholds Right to Sell Hypothecated Vehicle for Recovery [Read Order]

The Debts Recovery Tribunal (DRT)-II, Mumbai, with regards to the default of the car loan, ordered the repayment of the amount with interest of 11.25% to State Bank of India ( SBI ). The tribunal...

Non-Service of Demand Notice and Irregularities in Auction Sale: DRAT Remands Matter for Fresh Decision [Read Order]

The borrower contended that no demand notice under Section 13(2) of the SARFAESI Act was served, and that the auction was conducted at a throw‑away price.The Debt Recovery Appellate Tribunal (DRAT),...

DRAT Defers PNB Housing Finance Move to Take possession of Mortgaged Property, Orders ₹20 lakh Deposit Within Two Weeks [Read Order]

To recover the amount, the bank filed an application under Section 14 of the SARFAESI Act before the Chief Judicial Magistrate, Tiruppur, seeking possession of the secured propertyThe Debt Recovery...

Property Sold Below Distress Value Violating Rule 8(6) SARFAESI Rules: DRAT Directed Bank to Refund Auction Amount with 8% Interest [Read Order]

The sale notice dated 07.07.2014 did not comply with Rule 8(6), missing auction details and redemption rights, and was published even before issuance.The Debt Recovery Appellate Tribunal (DRAT),...

Stakeholders Show Unwillingness to Mediation: DRAT Directs DRT to Expedite Hearing of Securitisation Application [Read Order]

The Debt Recovery Appellate Tribunal (DRAT), Kolkata, has disposed of an appeal, directing the debt recovery tribunal to hear the pending securitization application expeditiously. The appeal...

DRT Cannot Bypass DRAT & High Court Directions: DRAT Sets Aside Order, Directs Adjudication of Counter-Claim of Company [Read Order]

The Debts Recovery Appellate Tribunal (DRAT), Kolkata, has set aside an order of the Debts Recovery Tribunal (DRT) holding that DRT cannot bypass orders and is bound by the directions of DRAT,...