The banks and financial institutions in India have over the years been experiencing considerable difficulties in recovering huge amounts of public money blocked in the hands of defaulting borrowers as the existing procedure for recovery of debts due to banks and financial institutions was not simple, swift and capable of reaching a final decision within a time frame.  

The Government of India, as a step to streamline the system, appointed committees like ‘The Tiwari Committee’, the Committee on Financial Systems headed by Shri. M. Narasimham, former Governor of Reserve Bank of India, and ‘High Level Committee’ headed by V.S. Hegde. These Committees had recommended the setting up of special tribunals for speedy realization of dues of the credit institutions. 

President of India promulgated The Recovery of Debts Due to Banks and Financial Institutions Ordinance, 1993 (Ordinance No.25 of 1993) on 24th June, 1993, to provide for establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions.  

Later, the Ordinance was replaced by The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (DRT Act) enacted by the Parliament and given assent by the President of India on 27th August 1993. The Act came in to force on 24th June 1993. Immediately Action was initiated by the Government for establishment of Recovery Tribunals and Appellate Tribunals in the country. Presently, there are 33 DRTs and 5 DRATs functioning all over the country. The pecuniary jurisdiction of these Tribunals is Rs.10.00 lakhs and above. The Debts Recovery Tribunal, Aurangabad  ( Maharashtra ), started its functions with effect from 07.12.2000.  

Debts Recovery Tribunals also have jurisdiction over Appeals, which can be preferred against the orders of this DRT to the Hon'ble Debts Recovery Appellate Tribunal at Mumbai.           The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

COMPOSITION

The Debts Recovery Tribunal is headed by a Presiding Officer ( Head of the Department ) and the other officers consist of one Secretary / Registrar (Head of the Office ), two Recovery Officers and one Assistant Registrar with supporting staff. The total strength of this DRT is 30.

Roll of Presiding Officers who held the charge earlier :

1.  SHRI K. Y. JAGTAP

01-12-2000  TO 30-11-2005(AN)

*  Please see below

01-12-2005 TO  29-06-2006

2.  SHRI P. M. MISRA ( Addl. Charge as I/C P.O. )
( P.O., DRT, Nagpur )

30-06-2006  TO 06-01-2009

3. Dr. Shamshuddin

07-01-2009 To  29-03-2012

*  Please see below

30-03-2012 To  01-07-2012  

4. Sh. Ramesh Kumar Mahaliyan 02-07-2012

*During the period from 01-12-2005 to 29-06-2006 & 30-03-2012 to 01-07-2012, different Hon'ble Presiding Officers from other DRTs at Pune & Mumbai located in Maharashtra were given additional charge of this DRT.