The Ministry of Finance, Department of Financial Services, has issued a fresh notification authorising the Chairperson of the Debts Recovery Appellate Tribunal (DRAT), Delhi, to decide two significant appeals involving Punjab National Bank (PNB). The order has been issued under the powers granted by Section 8(3) of the Recovery of Debts and Bankruptcy Act, 1993.
The notification, numbered S.O. 3872(E) and dated 14 July 2026, has been issued in continuation of an earlier notification dated 5 March 2024.
Appeals Covered by the Notification
The authorisation relates to the following matters pending before the debt recovery appellate mechanism:
1. Punjab National Bank vs M/s Sundar Nagar Integrated Rural Development Association (SIRDA)
- Appeal No. 50 of 2021
- Arising out of O.A. No. 30/2020 before DRT-I, Chandigarh
- Includes all connected proceedings
2. Punjab National Bank vs M/s Rishi Boys Hostel & Others
- Appeal No. 51 of 2021
- Arising out of O.A. No. 26/2020 before DRT-I, Chandigarh
- Includes all connected proceedings
Under the latest order, the Chairperson of DRAT Delhi has been specifically empowered to adjudicate these appeals and related matters.
Significance of the Order
Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bankruptcy Act to facilitate the speedy adjudication and recovery of debts due to banks and financial institutions. DRATs function as appellate forums against orders passed by DRTs.
The Central Government occasionally issues special authorisations to ensure that pending appeals are heard and disposed of efficiently, particularly in matters involving significant banking recoveries or where administrative arrangements are required.
The present notification enables the DRAT Delhi Chairperson to hear and decide the two Punjab National Bank appeals arising from proceedings before DRT-I, Chandigarh, thereby ensuring continuity in the appellate process.
Legal Basis
The authorisation has been issued under Section 8(3) of the Recovery of Debts and Bankruptcy Act, 1993, which empowers the Central Government to make necessary arrangements regarding the functioning and jurisdiction of Debts Recovery Appellate Tribunals.
The order has been signed by Shalini Pandit, Joint Secretary, Department of Financial Services, Ministry of Finance.
Official copy of the notification is as follows
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