A tribunal has an authority to judge,adjudicate on or determine claims or disputes .
A judge is an arbiter of justice. He should conduct the trial impartially and in open court.
The Debt Recovery Tribunal of India , is an antithesis of the prescribed norms.
It conducts trial in an open court, hears the arguments of the respondent and petitioner, ( Company and Bank).
As in judiciary, it takes years to settle a case,giving adjournments, and one fine day settles in favour of banks.
Hundreds of cases have been finalised in such a manner.
The awards make us doubt the credibility of the tribunal. Hundreds and more references are made , and in all instances , the companies are in default, the Banks are always in the right fold path.
This is a surprising pronouncement. All the industries have defaulted , failed because of their misdeeds, collapsed because of their impractical business code .
Again , did all the banks extended advance at the right time and distributed appropriate funds, sanctioned Term loan, Deferred Payment Guarantee, and working capital, by levying nominal interest, and taking equal collateral security.?
The banks during 1991-2000 , have charged 23% interest, much higher than a money lender,have taken collateral three fold than the sanctioned limit, taken a percentage as a processing fee.
Certain companies ,by their backdoor activities , have got more than the requirement, and given a small less valued property as security.
How did they succeed ?Needless to say, they gave a handsome pay off to satisfy the officials.The bureaucracy accepted “something”, and disbursed the amount generously , as if they are doing it from their own pocket.
These companies ,who received large funding against low security, stand to benefit from the judgement of this presitigious Debt recovery tribunal.
Genuine customers, who waited in patience to get the loan application accepted, who waited for every move of the banks, more precisely put up with every delay made by the officials, who had pledged the valuable assete with the bank, stand disappointed, shaken , virtually ripped off by the judgement of the DRT.
DRT has a blind faith on the Banks and a blind suspicion on the companies.
Banks are officiated by men , good and bad. Companies are formed by men ,genuine and fraud.
Tribunal is also handled by men, but by men who have taken an oath of promise, by which they should abide by law, speak truth, and refrain from pronouncing illicit final statements.
Unfortunately , The Debt recovery tribunal Of India , has succumbed to falsification, to power, to money and to deceit.
Meenas Poems 