The Debt Recovery Tribunal (DRT) is a specialized judicial body established under the Recovery of Debts and Bankruptcy Act, 1993 to facilitate speedy recovery of debts due to banks and financial institutions. It was created to reduce the burden on civil courts and ensure faster resolution of recovery cases. DRT deals with cases where the debt amount exceeds the statutory limit. Banks and financial institutions approach DRT to recover loans from defaulting borrowers. The Tribunal handles matters related to secured and unsecured loans. Proceedings before DRT are summary in nature. It ensures efficiency and time-bound recovery. Borrowers are given an opportunity to present their defense. DRT follows principles of natural justice. Legal representation is permitted in DRT proceedings. The Tribunal also handles applications under SARFAESI Act. DRT benches are established across India.

DRT has the authority to pass recovery orders and issue recovery certificates. Recovery Officers are appointed to execute DRT orders. Borrowers can challenge actions of banks under the SARFAESI Act before DRT. Appeals against DRT orders lie before the Debt Recovery Appellate Tribunal (DRAT). Interim relief such as stay orders may be granted. DRT examines loan documents, security interests, and compliance with law. It protects the rights of both lenders and borrowers. Limitation periods apply for filing applications. DRT ensures transparency in recovery proceedings. It plays a crucial role in strengthening the banking system. Strict enforcement promotes financial discipline. DRT contributes to maintaining economic stability and credit flow.