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Appeal against the order of DRT under Securitisation said Act Any person aggrieved on account of order passed by DRT may file an appeal before DRAT. The DRAT does not entertain the appeal unless the Appellant deposits with the Appellate Authority, 50% of the amount or such other lesser amount as directed by DRAT. Powers of DRT under Securitisation Act In addition to the power of the DRT under DRT Act, a DRT has following additional powers: a. to restore for ordering restoration of the management of the secured assets to the borrower or restoration of possession of the secured assets to the borrower. b. to order payment of cost/compensation to the borrower if it holds that the possession of the secured assets by the secured creditor is not in accordance with the provisions of the Act. Disposal of Application /Appeal by DRT/DRAT Any application made by the Banks and Financial Institutions is to be dealt with by the Tribunal as expeditiously as possible and endeavor is to be made by Tribunal to dispose off the application finally within a period of 180 days from the date of receipt of application. The appeal filed before the Appellate Tribunal is to be disposed off as expeditiously as possible and endeavor is to be made by Tribunal to dispose off the appeal finally within a period of six months from the date of receipt of appeal. On practical side the proceedings before may take from 1 (one) year to 3 (three) years depending upon the facts and circumstances of the case. IMPORTANT PRECEDENTS Mardia Chemicals Ltd. Vs Union Of India (AIR 2004 SC 2371) Ratio: The constitutionality of the Securitisation Act was upheld except 17(2) of the Act. Transcore Vs Union Of India (AIR 2007 SC 712) Ratio: Withdrawal of suit pending before DRT under DRT Act, 1993 is not a pre-condition for taking recourse to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Securitisation and Reconstruction of Financi