LEGAL AND REGULATORY ASPECTS OF BANKING (LRAB) 

Unit - 29: Establishment of Tribunal and Appellate Tribunal 

​Legal & Regulatory Aspects of Banking - 

Unit - 29 : Establishment of Tribunal and Appellate Tribunal
The Central government is empowered to establish one or more tribunal to be known as a debt recovery tribunal to excercise the juriisdiction , powers and authority conferred on such tribunal by or under this Act . 

Composition of Tribunal:
The Tribunal is made up of only one person called presiding officer and the appointment is done by the Central Government by issuing a notification. 

A person is qualified for appointment as a presiding officer if he is, or has been ,or is qualified to be appointed as a District Judge . The Presiding officer holds office for a term of 5 Years from the date on which he enters upon his office or until he attains the age of 62 Years which ever is earlier.

If there occurs any vacancy at tribunal or appellate tribunal , that is not a temporary nature , the Central government may fill such vacancy in accordance with the provisions of the act . 

The central government is empowered to establish one or more tribunal to be known as Debt Recovery Tribunal.
Composition of Tribunal The tribunal consists of one person called as Presiding Officer and the appointment is done by the central govt. by issuing notification. Debt Recovery Tribunal  and Appellate Tribunal
1) Presiding Officer : District Judge
1) Chairperson : High Court Judge, Presiding officer of a DRT for at least 3 years.
2) Presiding officer holds officer for a term of
5 years or until he attains the age of 62 years whichever is earlier.
2) Chairperson holds officer for a term of 5 years or until he attains age of 65 whichever is earlier.
3) Recovery Officer
3) The staff so appointed shall work under the general superintendence of the presiding officer.

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