What Should Borrowers Know Before Choosing a DRT Case Defence Lawyer?

Know more about how we help Borrowers in Bank Recovery Case, SARFAESI Case, Loan Dispute, DRT Case and Appeal before DRAT through a DRT Case Defence Lawyer.

Bank recovery can become worrying when you receive multiple notifications of unpaid amount or your security being taken by bank. A DRT Case Defence Lawyer would help you to know more about the proceedings and go through your documents and find out issues if any. There could be many scenarios under debt recovery tribunal which would require attention from borrower's end. Similarly you may also have issue with SARFAESI proceeding if you are a secured Borrower. Every case is different and so we review each case individually based on documents, notices received, security and history.

Why Does DRT Defence Matter?

The Borrower can receive a recovery notice if there are problems with paying back their loan or enforcement has been made on secured property. They may have questions regarding how much they owe, what their account status is. Contractual issues, notices given, payments made, security documentation or how recovery has been carried out.

What Does a DRT Case Defence Lawyer Examine?

The documents which need to be perused can include the Loan Agreement, Sanction Letter, Account Statement, Security Documents, Repayment record, Correspondence, Notices and Orders passed if any. It could also be necessary to look into the chronology of events with respect to the demand notice and steps taken thereafter in cases under SARFAESI Act.

The question involved in the matter can be regarding Jurisdiction, Limitation, Disputed calculation, steps as per procedure, natural justice, validity of steps taken etc.

How Does SARFAESI Connect With DRT Proceedings?

The Act has given statutory remedies to secured credit institutions under SARFAESI Act and Rules there under. If any such remedy provided u/s 13(4) are felt to be unjustified by borrower he can approach the DRT as provided in section 17. Hence proper time lines and documentation may play a key role.

In case of taking over of possession or notice of auction. Borrower should maintain all notices published, valuations, payments made towards the secured asset etc.

What About DRAT Appeals?

It may prove to be quite detrimental to have a DRT passed against you. Section 18 of SARFAESI act allows an aggrieved borrower to file an appeal before the Appellate Tribunal within the stipulated time. Provided such statutory conditions are met. Such as making a pre deposit. The act allows for a pre deposit of 50% of the amount of debt due or found to be due whichever is lower. Can be reduced to a minimum of 25% for good reasons recorded on record.

What Documents Should Borrowers Preserve?

The borrower must maintain copy of Sanction letter, Loan Agreement, Account statements, Repayment receipts, Notices, Possession communications, Auction notice and any settlement offer made. If its a business they should also keep their account statements and communication with lender.

Why Is Early Legal Review Important?

Sometimes they can have a very strict time line as well. Once you get to a auction date or a final order you may find yourself with less options. It's best to look over the facts as early as possible and see what notices were given and your options.

Can a DRT Defence Include Settlement Issues?

It can happen when there is a lawsuit going on. Just because someone offers to settle doesn't mean its an agreement. There are many factors to consider when analyzing what an offer means legally. Such as if its agreed to.  How much was paid.  What the offer says etc.  

Conclusion

A DRT Case Defence Lawyer will be able to assist you by going through your documents and help you understand what's going on in recovery proceedings. There are many types of application you can file in DRT. Be it SARFAESI case or Auction or Appeal in DRAT all have there own statute. After studying your record we will be able to point out what issues arise and where you should approach. You can consult with Advocate BK Singh on this matter. We at DRAT Lawyer provide service to people having issues in DRT,DRAT,SARFAESI and Bank Recovery Cases based on facts and documents of the case.

Frequently Asked Questions

1. What is DRT Case Defence Lawyer? 

A DRT Case Defence Lawyer would be able to help you with your case if you are being sued by your Bank under Debt Recovery Tribunal. It could be Bank Recovery/Loan Recovery or any other debt related issues.

2. At what point should I approach a lawyer for my DRT Case?

You could take a legal opinion once you receive your Recovery Notice/SARFAESI Notice/Possession Notice/Auction Notice or even after the DRT Order.

3. Can I face DRT proceedings due to SARFAESI?

As per Section 17 of the SARFAESI Act, there is a remedy provided before the DRT against certain measures as mentioned in section 13(4).

4. Can I appeal against a DRT Order? 

There is a provision to appeal against the DRT order before the DRAT. Subject to conditions laid down in the act, limitation period and pre deposit.

5. What is the DRAT Pre Deposit? 

As per the law 50% is required to be deposited as per Section 18 which may be reduced by the court to an extent of minimum 25%.

6. What documents should I provide for my DRT Case?

Loan Agreement/ Account Statement/Notice/Any payment made to bank/Security documents/Auction Notice etc.

7. Can I challenge my Auction Notice before DRT?

Certain measures as provided under SARFAESI Act can be challenged before DRT.

8. If I settle my loan will all cases get closed?

It depends upon your case and settlement terms.

9. Why are limitations important? 

Limitations play a vital role in your case. Do not ignore them once you have received a notice.

10. Can a lawyer look into my entire record?

Yes a lawyer can look into your entire record starting from notices, agreement, statement, correspondence, security document, orders passed etc.

Read More -How Can Borrowers Respond to DRT Recovery Proceedings With Legal Help?

GMB , LINKDIEN 

Website - https://www.drtlawyer.com/ 


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