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Cases Above Rs.100 Crores: Finance Ministry Notifies Exclusive DRT Benches

Pallavi Mishra

19 Oct 2022 2:15 PM GMT

    • Cases Above Rs.100 Crores: Finance Ministry Notifies Exclusive DRT Benches

    The Ministry of Finance has issued a notification dated 04.10.2022, whereby the jurisdiction of Debt Recovery Tribunal ("DRT") has been revised. The notification has been released under Section 3 of the Recovery of Debts and Bankruptcy Act, 1993 and in supersession of the notifications of the Government of India, vide numbers G.S.R. 395 (E) dated the 29.05.2007 and S.O.3065 (E) dated...

    The Ministry of Finance has issued a notification dated 04.10.2022, whereby the jurisdiction of Debt Recovery Tribunal ("DRT") has been revised. The notification has been released under Section 3 of the Recovery of Debts and Bankruptcy Act, 1993 and in supersession of the notifications of the Government of India, vide numbers G.S.R. 395 (E) dated the 29.05.2007 and S.O.3065 (E) dated the 26.09.2016, and all subsequent notifications relating to change of location of the existing Debts Recovery Tribunals. The Central Government has notified that following DRTs shall exclusively deal with matters pertaining to defaults of over Rs. 100 Crores:

    1. DRT Court Room No. 1, Mumbai Bench: All applications involving debt amount of Rs.100 crores and above, if otherwise falling under the jurisdiction of DRT No.2 and No.3 of Mumbai; DRT Pune; DRT No.1 and No.2 Ahmedabad; DRT Aurangabad; and DRT Nagpur.
    2. DRT Court Room No. 3, New Delhi Bench: All applications involving debt amount of Rs.100 crores and above, if otherwise falling under the jurisdiction of DRT No.1 and No.2 of Delhi; DRT Jaipur; and DRT No.1, No.2 and No.3 of Chandigarh.
    3. DRT Court Room No. 1, Chennai Bench: All applications involving debt amount of Rs.100 crores and above, if otherwise falling under the jurisdiction of DRT No.2 and No. 3 of Chennai; DRT Madurai; DRT No. 1 and No. 2 of Bangalore; DRT No. 1 and No. 2 of Ernakulam and DRT Coimbatore.

    Notification No.: S.O. 4717(E), S.O. 4718(E) and S.O. 4719(E)

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    Tags
    Finance MinistryDRT BenchesDebt Recovery Tribunal (“DRT”)Recovery of Debts and Bankruptcy ActRs.100 Crores
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