The ability of the Debt Recovery Tribunal (DRT) to take possession of wetland for debt recovery depends on a few factors:
Land Classification:
Secured vs. Unsecured Debt: If the wetland was offered as security for the loan (mortgaged), t potentially take possession for recovery purposes. However, specific laws like the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) might have limitations on agricultural land [SCCONLINE blog, Only a secured property used as agricultural land can be exempted under SARFAESI Act; Supreme Court sets aside Telangana High Court's order].
Agricultural Land Exemption: Some states might exempt agricultural land from DRT possession under specific provisions. It's crucial to check relevant state laws.
Overall Value and Utility:
The DRT's primary objective is to recover the debt. If the wetland has minimal commercial value due to its wet nature, the tribunal might prioritize selling more readily saleable assets to recover dues.
Debtor Objections:
The debtor can contest the DRT's decision to take possession of the wetland, especially if it qualifies for agricultural land exemption or has minimal value for debt recovery.
Availability of Judgments:
Unfortunately, there aren't readily available public judgments specific to DRT possession of wetlands. However, judgments regarding agricultural land exemptions under SARFAESI Act might offer relevant insights.
Recommendation:
For a definitive answer on your specific situation, consulting a lawyer specializing in debt recovery and land law is advisable. They can analyze the details of your case, including the loan type, land classification, and relevant state laws, to provide a more accurate assessment of the DRT's
