DRT Lawyer

A DRT (Debts Recovery Tribunal) Lawyer is a legal professional who specializes in matters related to the recovery of debts. DRTs are special tribunals established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, to facilitate the speedy adjudication and recovery of debts owed to banks and financial institutions.

Types of DRT Lawyers in India:

  1. Bank Debt Recovery Lawyers:

    • These lawyers represent banks in cases where they are seeking to recover outstanding debts from individuals or entities.

  2. Financial Institution Debt Recovery Lawyers:

    • They handle cases on behalf of financial institutions, such as non-banking financial companies (NBFCs), seeking to recover unpaid debts.

  3. Individual Debtors’ Lawyers:

    • These lawyers represent individual debtors who are facing legal action for non-repayment of debts.

  4. Corporate Debtors’ Lawyers:

    • They represent corporate entities that are involved in debt recovery cases brought forward by banks or financial institutions.

  5. Guarantor’s Lawyers:

    • These lawyers represent individuals who have provided guarantees for loans and are now facing legal action as a result of default by the primary debtor.

  6. Asset Reconstruction Company (ARC) Lawyers:

    • ARCs specialize in purchasing non-performing assets (NPAs) from banks and financial institutions. Lawyers in this area may assist ARCs in legal matters related to debt recovery.

Approach for Dealing with DRT Cases:

  1. Case Evaluation:

    • We conduct a comprehensive evaluation of the case, including a review of relevant documents and legal provisions.

  2. Legal Strategy Development:

    • Based on the specifics of the case, we formulate a customized legal strategy to achieve the client’s objectives.

  3. Client Consultation:

    • We maintain open communication with our clients, providing them with clear and accurate legal advice throughout the process.

  4. Negotiation and Mediation:

    • We explore the possibility of reaching a settlement through negotiation or alternative dispute resolution methods, aiming for an amicable resolution when appropriate.

  5. Preparation of Legal Documentation:

    • We assist in the preparation and filing of necessary legal documents, ensuring compliance with procedural requirements.

  6. Court Representation:

    • We provide strong legal representation in DRT proceedings, presenting arguments, and advocating for our client’s interests.

  7. Due Diligence:

    • We conduct a thorough review of all relevant documents and evidence, ensuring that all legal procedures are followed correctly.

  8. Post-Resolution Support:

    • We provide guidance on any further legal steps required after a resolution has been reached.