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'DRTs block implementation of Securitisation Act': Banks complain to Finance Ministry.
(From Business Line)
The banking industry has pointed out to the Ministry that DRTs are frequently raising objections when lenders approach them with the plea to initiate action under the Securtisation Act.
NEW DELHI, July 6. THE Ministry of Finance has a new problem in hand on the NPA front, with none other than its very own creation - the Debt Recovery Tribunals (DRTs) - erecting obstacles in the way of implementation of the Securitisation Act that is aimed at helping lenders to effect speedy recovery of their sticky assets.
The banking industry has pointed out to the Ministry that DRTs are frequently raising objections when lenders approach them …
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