Multiple choice

Which of the following is the period for DRT decision on the application filed by bank?

  1. It must be decided within 90 days from date of first hearing.

  2. DRT to make effort to dispose off the application within maximum of 180 days from date of receipt of application.

  3. It is binding on DRT to decide the matter within 180 days from date of its receipt.

  4. DRT is not bound to abide by any time limit.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The application shall be disposed off, as far as possible, within 180 days from the date of its receipt. A certificate will be issued to the Recovery Officer for recovery of amount of debt specified in the certificate.

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