Advocate N.K. Verma - Banking & DRT Advocate | SARFAESI ADVOCATE Amritsar, Barnala, Bathinda, Faridkot, Fatehgarh Sahib, Fazilka, Ferozepur, Gurdaspur, Hoshiarpur, Jalandhar, Kapurthala, Ludhiana, Mansa, Moga, Muktsar, Nawanshahr (Shahid Bhagat Singh Nagar), Pathankot, Patiala, Rupnagar, SAS Nagar (Mohali), Sangrur, Tarn Taran
DEBTS RECOVERY TRIBUNAL
Earlier, Loan Recovery cases were being dealt by normal Civil Courts which dealt a lot more other type of cases leading to far lesser importance to Loan Recovery cases than needed. As a result, there was unwarranted delay in resolution of such cases and thus in the relief to the Creditors. DRTs were constituted under Recovery of Debts due to Banks and Financial Institutions Act (RDDBFI), 1993 as a measure to boost the speed of disposal of Loan Recovery cases in India.
The N.K. Verma & Associates as a firm provides you with legal experts who are well conversant with the nuances of Legal Procedures while filing your Recovery suits. Our dealing in DRT matters for so long has bestowed us with appreciable experience in the area so that we know how to connect Legal procedures and Legal Knowledge in a manner which gives you best possible results. Banking & DRT Advocates in Chandigarh.
We, as a firm, are acknowledged for providing swift and desired recoveries because of our long practice in the DRT matters which has made us efficient in the field.
RDDBFI Amendment Act 2016
As a breakthrough, the Act brought with itself stipulated time periods within which each case must be brought to a decision.Time limits for filing of written statements, passing of orders, appeals, etc. have been reduced. It empowers the Central Government to provide for uniform procedural rules for the effective working of the Tribunals.The amendment allows banks to file cases in DRTs having jurisdiction over the area of the branch where the debt is pending, instead of the DRT having jurisdiction over the defendant’s area.
Similarly, to reduce delays, the cost on a debtors to delay recovery through protracted appeals and proceedings has been raised to 25% of the outstanding amount to file an appeal.
Our N.K. Verma & Associates team hones its capabilities with changing circumstances and laws. We know how to fulfill each and every step within the statutorily specified time limits and in the most effective manner to make results palpable for you. Banking & DRT Advocates in Chandigarh. Best DRT Advocates in Chandigarh | Punjab | Haryana – Advocate – Banking Lawyers in Chandigarh – SARFAESI Lawyers – DRT Lawyer in Chandigarh | Punjab | Haryana
ADVOCATE N.K. VERMA – BANKING & DRT ADVOCATE | SARFAESI ADVOCATE AMRITSAR, BARNALA, BATHINDA, FARIDKOT, FATEHGARH SAHIB, FAZILKA, FEROZEPUR, GURDASPUR, HOSHIARPUR, JALANDHAR, KAPURTHALA, LUDHIANA, MANSA, MOGA, MUKTSAR, NAWANSHAHR (SHAHID BHAGAT SINGH NAGAR), PATHANKOT, PATIALA, RUPNAGAR, SAS NAGAR (MOHALI), SANGRUR, TARN TARAN
ADVOCATE N.K. VERMA – BANKING & DRT ADVOCATE | SARFAESI ADVOCATE AMRITSAR, BARNALA, BATHINDA, FARIDKOT, FATEHGARH SAHIB, FAZILKA, FEROZEPUR, GURDASPUR, HOSHIARPUR, JALANDHAR, KAPURTHALA, LUDHIANA, MANSA, MOGA, MUKTSAR, NAWANSHAHR (SHAHID BHAGAT SINGH NAGAR), PATHANKOT, PATIALA, RUPNAGAR, SAS NAGAR (MOHALI), SANGRUR, TARN TARAN