What is the time limit for DRT to complete the process?

The appeal against an order of Recovery Officer to DRT can be requested within 30 days from the date of order. The Tribunals have to resolve the claim within six months. The appeal against the judgment of DRT can be made within 45 days only to DRAT(Debt Recovery Appellate Tribunal).

Who can go to DRT?

For debt less than 10,00,000, suite in civil courts may be initiated. Only Banks and Financial Institutions (which later includes Public Financial Institutions & Securitization company / Reconstruction company ) can file original application for recovery of Debts. No other type of application is entertained by DRTs.

Is Hazrat Ali birthday a gazetted holiday?

It is a restricted holiday in India. Hazrat Ali’s birthday is celebrated as Hazrat Ali Jayanti in Uttar Pradesh, where it is declared a public holiday. Hazrat Ali’s birthday 2020 Islamic date, fell on 9 March 2020. In 2021, Hazrat Ali’s birthday is slated to be celebrated on 25th February 2021.

What is CAOD in DRT?

In June 2005, the petitioners ( borrowers) filed its CAOD (i.e. affidavit of evidence in OA) and the list of documents of the. 2 /10 This Order is modified/corrected by Speaking to Minutes Order dated 23/12/2016 W.P. No.

What is DRT court fee?

Rs. 1,000 for every one lakh, subject to a maximum of Rs. 1,50,000.

Can DRT review its own order?

27-09-2018 10/ 15 and Bankruptcy Act, 1993, the DRT would power to review its own order, the DRT would have jurisdiction to review its order passed under SARFAESI Act, 2002 also.

What is the minimum amount for DRT?

The Act is applicable to cases where the amount of debt due to any bank or financial institution defined under the Act or a consortium of banks or financial institutions is Rs. 20 lakh or more.

Is Diwali a gazetted holiday?

Diwali also known as the festival of the lights is an important auspicious holiday in the Hindi calendar. Even though Diwali is not among the gazetted public holidays in Kenya, Kenyan Hindus for many years have jubilantly marked the holiday as they take off a day from work and school to honour their rituals.

What are the 4 mandatory holidays in India?

The 14 mandatory holidays in India include Republic Day, Independence Day, Gandhi Jayanti, Diwali, Christmas, Good Friday, Guru Nanak’s Birthday, Eid-ul-Fitr, Eid-ul-Zuha, Mahavir Jayanti, Muharram etc.

What are the powers of DRT?

Power of DRT An Appellate Tribunal shall entertain appeals against any order made, or deemed to have been made, by a Tribunal under RDB Act. By the 2000 amendment, Section 17A has been inserted in the RDB Act which specifies the Power of Chairperson of Appellate Tribunal.

What is the minimum eligible amount under the Sarfaesi Act 2002?

The Ministry of Finance, vide its notification dated 24th February 2020, notified that the NBFCs with asset size of Rs. 100 crores or more are eligible NBFCs that are covered under the SARFAESI Act to enforce security interest on debts amounting to at least Rs. 50 lacs.

Has Diwali 2021 been gazetted?

“The Government has not declared a public holiday on Thursday, November 4, 2021. The purported gazette notice declaring [tomorrow as] a holiday is fake,” said the ministry. Diwali, a holiday celebrated by Hindus globally, lasts five days, and usually falls in the months of October or November of every year.