Lok Adalat

Lok Adalat Definition: Lok Adalat is one of the alternative dispute redressal mechanisms in India. It is a forum where non-performing asset disputes pending in courts or at the pre-litigation stage are settled amicably without legal fees.

Why it matters in Debt Collection

• Offers rapid execution for retail unsecured loans.
• A decree from Lok Adalat is final and binding with no scope for appeal.
• Collection software systematically filters and prepares eligible borrower dockets for Lok Adalat camps.