The
Debts Recovery Tribunals have been established by the Government of India
under an Act of Parliament (Act 51 of 1993) for expeditious adjudication
and recovery of debts due to banks and financial institutions.
The Debts Recovery
Tribunal is also the appellate authority for appeals filed against the
proceedings initiated by secured creditors under the Securatizaton and
Reconstruction of Financial Assets and Enforcement of Security Interest
Act.
The
Chennai Debts Recovery Tribunal was the second such Tribunal to be set up in the
Southern Region.
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