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DRT BAR Association Chandigarh

On the establishment of Debt Recovery Tribunal at Chandigarh, The advocates practicing in Debt Recovery Tribunal, Chandigarh Formed Debts Recovery Bar Association in the year 2000. The Debts Recovery Tribunal Bar Association (DRTBA) is the leading Bar association in the region & members of this bar association are the Advocates who are mainly Practicing in Chandigarh, The Building of DRTBA is Situated in Center of the City, Sector 17-A, Chandigarh. The DRTBA was established with a vision to permote professional Competence, Enforce standards of ethical Conduct and encourage a spirit of public service among members of legal profession.
To perform all the acts of the governance and to serve the members of the bar for their social security and welfare, various executive committee since 2000 played a very vital Role. All the executive committees since 2000 aimed to permote and project the privileges, rights, interest & prestige of the members of the Debts Recovery Tribunal Bar Association, Chandigarh.
An economy’s performance can be assessed with the disposal rate of its non-performing assets. India has been struggling with them. Although measures have been taken to deal with their growing rate, no effective measure has been identified till now. The Parliament has enacted the Recovery of Debt Due to Banks and Financial Institutions Act, 1993 and the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 to deal with debt recovery. The Enforcement of Security Interest and Recovery Debt Laws and Miscellaneous Provisions (Amendment) Act, 2016 had made changes in the acts of 1993 and 2002 and other integrated acts. This Amendment Act was an effort to tackle the existing regulatory gap. This paper suggests the development of an exchange market for an effective resolution of such assets. By adopting the statistical analysis of the efficacy of Debt Recovery Tribunal and Act of 2002 in resolving the problem, it investigates the impact of the legislation on the recovery of debts.