The proposed recovery (including Rs 200 crore recovered) was based on the decree passed in 190 cases. More than 50 per cent of the Rs 200 crore recovered was due to compromise reached between the two parties, while 40 per cent of the recovery was attributed to the withdrawal of cases. The rest was due to actual recovery, sources told The Financial Express.

"This should cheer up banks and financal institutions who generally perceived DRTs as organisations with a poor track record in settling cases," sources said. Debt Recovery Tribunal , Mumbai, was saddled with more than 4,500 cases and an estimated sum of Rs 10,000 crore involved. These cases were passed on to it from the Bombay high court.

It accounts for a lion's share of cases with NPAs of the banks being on the rise. As on date, over 6,000 cases are still pending with DRT, Mumbai, sources said.

Another problem faced by the DRT, Mumbai was the inadequate number of presiding officers to handle the cases and deliver judgements. The DRT had only one presiding officer who has been with it since its inception in July last year.

However, as declared by the union finance minister in his budget speech, five more DRTs will be established, four of which will be in Maharashtra. The process of appointing the four presiding officers is almost complete and will result in faster and efficient recovery, sources said.

The notification for establishing the four Debt Recovery Tribunal s is on the anvil. It has been suggested to establish them at other centres in Maharashtra to make it conveninet for litigants, advocates and bankers from far flung areas.

DRTs are set up to try and consider applications for recovery of debts due to banks and financial institutions. Other than Mumbai, the government has established DRTs in various cities with four appellate tribunals in the metropolitan cities.