DRAT

The Debt Recovery Appellate Tribunal (DRAT) is the appellate authority established to hear appeals against orders passed by the Debt Recovery Tribunal (DRT). It was constituted under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. DRAT ensures fairness and legal scrutiny of DRT decisions. It provides an effective appellate mechanism for aggrieved borrowers and financial institutions. The tribunal examines both legal and factual aspects of recovery proceedings. DRAT plays a vital role in safeguarding due process. Proceedings before DRAT are designed to be expeditious and efficient. It has jurisdiction over matters within its territorial limits. Orders passed by DRAT are binding on the parties. Appeals against DRAT orders lie before the High Court. The tribunal also hears matters under the SARFAESI Act. DRAT helps maintain consistency in recovery jurisprudence. It strengthens confidence in the recovery framework. Overall, DRAT serves as a key pillar in the banking and financial dispute resolution system.