Government of India has constituted 33 Debt Recovery Tribunals and 5 Debt Recovery Appellate Tribunal across the country. The idea was to keep in line with the international trends on helping financial institutions recover their bad Debt quickly and efficiently. These debt recovery tribunals are located across the country.
The Debt Recovery Tribunal is located across the country. In Big Cities, there are more than one DRTs. However, there are some states which don’t have DRTs.
The Banks & Financial Institutions and other parties in these States have to go to Debt Recovery Tribunal located in other states having jurisdiction over there area.
Thus the territorial jurisdiction of some Debt Recovery Tribunal is very vast. For example, the Debt Recovery Tribunal located in Guwahati has jurisdiction over all the seven North Eastern States.
Similarly, the territorial jurisdiction of the Debt Recovery Tribunal located at Chandigarh too has a very wide jurisdiction over the States of Punjab, Haryana, and Chandigarh.
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