Financial Daily from THE HINDU group of publications
Tuesday, Mar 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 08, 2005 |
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Money & Banking
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Non-Performing Assets Debt tribunal's lok adalat in Coimbatore Our Bureau
People throng the Debt Recovery Tribunal's lok adalat in Coimbatore on Monday. — S. Siva Saravanan
COIMBATORE: The mood was upbeat at the first lok adalat for Debts Recovery Tribunal (DRT), Coimbatore.
Bankers were keen to settle the cases that had been pending for years amicably.
The Debts Recovery Appellate Tribunal Chairperson, Ms Pratibha Upasani, who inaugurated the programme, said such adalats were aimed at ensuring a reduction in the banks' non-performing asset levels. "In the conventional Court, the judicial process is not only time consuming, but there is a winner who makes the loser sad. Here, the issue is resolved amicably," she emphasised.
Eighteen banks participated in the adalat. Two hundred cases involving Rs106 crore were posted for hearing.
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