How Can a DRT Case Defence Lawyer Protect Borrowers Against Bank Recovery?

When you're being chased by banks for recovery there can be many things happening around you. Tribunal notice can come to you or possession notice or even your property can be put for auction. You don't know what's going on? A DRT Case Defence Lawyer will assist you with analysing the recovery proceedings against you, borrower/guarantor/ firm and help you defend yourself in front of Debt Recovery Tribunal.

When Should You Contact a DRT Case Defence Lawyer?

Got a recovery notice from your bank? Are you at risk of possession or auction of your property?

The sooner you get legal advice the better. There may be time lines to follow that you may miss or errors done on the banks side.

They can go through your loan documents, amount owing, bank statements, recovery letters, tribunal decisions etc. These could lead to disputed amounts being charged to you. Errors made and grounds that can be defended against your case.

Getting help before your hearing or auction may open up more options.

How Can a Lawyer Defend You Against Bank Recovery Proceedings?

If they fail to repay banks or any other bank and financial institution who is authorised can start debt recovery proceedings.

You can hire a Debt Recovery Tribunal Lawyer to-

  • Write your written statement & objections. 

  • Scrutinise the amount being recovered by the lender.

  • Represent you at the DRT. 

  • Challenge recovery proceedings if there is any illegality involved.

  • File necessary applications. 

  • Help you understand the liability of your sureties. 

Defence varies from case to case based on documents and laws which are applicable in that particular case. No lawyer can assure you that your debt recovery case will be stopped. 

Can a DRT Lawyer Challenge SARFAESI Possession Notices?

Did your Bank send you a Possession Notice under the Sarfaesi Act?

If yes then as per section 17 of the act an Aggrieved person can file a complaint against some of the things done under section 13(4) of the act in the competent Debt Recovery Tribunal.

Our Sarfaesi Defence Lawyer can check if all due formalities have been complied with by the Bank and whether the step taken by them is liable for challenge or not.

Normally such applications have to be filed within 45 days of the step taken. So it is advisable to consult us at the earliest.

What Happens When Your Property Faces a Bank Auction?

Can harm the home you live in businesses you own or money you have.

A DRT Case Defence Lawyer can go through all auction notice valuation documents possession cases and any sale terms.

They can apply for an interim order to stay the auction if there are good grounds.

Filing a case does not mean that the auction will be stopped you may need an order.

Can You Challenge Incorrect Loan Recovery Amounts?

Are you feeling that your bank has over charged you on interest penalty and other dues?

Bank Recovery Case Lawyer can look into your statement of account, payment made towards dues, rate of interest applicable as per agreement and other bank papers.

If found incorrect they can be contested by legal ways.

It is always important to have supporting documents with you because just objecting on the amount will not help you prove that bank has wrongfully calculated your dues.

How Does Legal Representation Help During DRT Hearings?

Filing on time with necessary documents and proper argument will be needed during a tribunal.

It can be helpful to have an attorney represent you so you know what your responsibilities are when responding to the banks claims.

They may also advise if there is a possibility of settling with your lender. Whether it be a repayment plan or one time settlement amount that they will agree to.

Settlements may depend on your lenders guidelines and policies.

Can You Appeal an Unfavourable DRT Order?

Even if you receive an unfavourable order from a tribunal you have other options.

Appeal can be filed against orders passed by the DRT which are appealable by the person who is aggrieved.

Normally when an appeal is filed by the borrower under section 18 of the SARFAESI act they will have to make a deposit as prescribed which can be reduced to a certain extent.

Speak to our DRAT Appeal Lawyer to find out what grounds of appeal you may have. If any limitations apply, what documentation is required and how much you need to deposit.

What Documents Should You Share With Your Lawyer?

Proper documentation will help you prove certain things and can be used to defend yourself as well.

Such as any loans, sanction letter, receipts paid for the loan. Bank statement, demand notice, possession notice, auction notice and previous tribunal order if applicable.

Providing all documentation to your attorney will allow them to know what you have going for you and what your case may lack of.

Conclusion

When there is any kind of recovery action taken by bank against your property or business then you should approach a DRT Case Defence Lawyer. It will help you to know about the law and can take steps to save your assets if any wrong doing has been done by the bank.

You can consult Advocate BK Singh for your case.

We provide professional services related to DRT Case Defence, SARFAESI, Bank Recovery, Property Auction and DRAT Appeal. If you are looking for solution for your case please feel free to contact us.

Frequently Asked Questions (FAQs)

1. What does DRT Case Defence Lawyer Do? 

The lawyer will look into Bank Recovery Cases draft replies represent you in front of tribunal and help you know what remedies you can take.

2. Will DRT Lawyer stay my property Auction? 

If there is a good cause of action lawyer can file for interim relief from the Tribunal and get auction stayed.

3. Who can approach Debt Recovery Tribunal? 

Banks, Financial Institution which are covered under law, borrowers, guarantors and other person who is eligible as aggrieved person can approach the DRT by law.

4. Can Borrower object SARFAESI Notice of Possession? 

Yes, any eligible person who is aggrieved can file an application against any qualifying measure of SARFAESI as per section 17. This should be filed within limitation period. 

5. Is it mandatory to have lawyer in DRT case?

No it is not mandatory to appoint a lawyer but it would help if you have one.

6. Can Guarantor defend a bank recovery case? 

Yes, you can take up all the defences available to you.

7. Can I challenge wrong interest charged by bank?

Yes you can take up your case if bank has charged any amount without supporting document. You can use your agreement statement and any other proof which you have paid money.

8. What is the difference between DRT and DRAT?

DRT deals with certain case and objections under SARFAESI act whereas DRAT is where you can file your appeal against any decision given by DRT.

9. Can I settle my case with Bank during proceeding in DRT?

Yes you can negotiate a settlement with the bank during the course of your case.

10. When should I talk to a DRT Case Defence Lawyer?

You should approach us as soon as you receive any notice of recovery from bank, notice from tribunal, notice of possession or auction of property.

Website - https://www.drtlawyer.com/ 

GMB , LINKEDIN 

Read More - How to Check DRT Case Status and Understand Your Case Update ?

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