Bharat Immunologicals And Biologicals Corporation Limited v. Canara Bank
$~63 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CM(M) 29/2026 BHARAT IMMUNOLOGICALS AND BIOLOGICALS CORPORATION LIMITED .....Petitioner Through:
Mr. Chetan Sharma, ASG for UOI with Mr. Shashank Dixit, CGSC for UOI, Mr. Amit Gupta, Mr. Shubham Sharma, Mr. Yash Wardhan Sharma and Mr. Naman, Advocates.
Mr. N.S. Dalal, Mr. Karan Mann, Ms.
Nidhi Dalal, Mr. Alok Kumar and Ms.
Rachana Dalal, Advocates.
versus CANARA BANK .....Respondent Through:
Mr. Hitesh Sachar and Ms. Anju Jain, Advocates along with Mr. Rajneesh Kumar, AGM (Canara Bank).
CORAM:
HON'BLE MR. JUSTICE RAJNEESH KUMAR GUPTA
O R D E R
% 27.01.2026 1.
This hearing has been conducted through hybrid mode. CM APPL. 4841/2026 (for directions to respondent to maintain status quo) and CM(M) 29/2026 2.
The present petition has been filed by the petitioner under Article 227 of the Constitution of India, 1950, assailing the order dated 05th January, 2026, passed by the learned Debt Recovery Tribunal (DRT) in S.A. No. 375/2025, whereby the request of the petitioner for stay of auction proceedings fixed for 07th January, 2026 has been dismissed. 3.
The impugned order dated 05th January, 2026 reads as follows: "The interim prayer of the applicant is hereby dismissed. Despite this the respondent bank is directed to sympathetically consider the proposal of the applicant for settlement and the respondent The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
bank may communicate with the senior officials of the concerned department for settlement as the applicant is a semi Govt. organization."
4.
During the pendency of the present petition, an application under Order I Rule 10(2) of CPC has been moved on behalf of the applicant, namely, Department of Biotechnology, Ministry of Science & Technology, Government of India to be impleaded in the petition on the ground that the applicant is the administrative department exercising control over the petitioner, Bharat Immunologicals and Biologicals Corporation Limited, a Central Public Sector Undertaking.
5.
At the outset, Mr. Chetan Sharma, Learned Additional Solicitor General, for the applicant/ Union of India ('UOI') submits, on instructions from Ms. Ekta Vishnoi, Joint Secretary, Department of Biotechnology, that the UOI is ready to deposit the decreetal amount along with interest and penalty within a period of one month from today to the learned Tribunal. 6.
Let the aforesaid amount be deposited with the concerned Tribunal i.e., DRT-II, Delhi. The said amount shall be deposited in the form of a Fixed Deposit with auto renewal facility, in the name of the Tribunal/Registrar of that Tribunal within 01 month, from today.
7.
However, learned counsel for the respondent-Bank submits that, as of today, the property in question has already been auctioned and 25% of the bid amount has been received from the Bidder.
8.
Learned ASG for the applicant/petitioner raises serious objections with regard to the valuation of the auctioned property. It is submitted that the applicant shall approach the concerned Tribunal with its contentions in this regard and now the matter is listed before the Tribunal on 05th March, 2026. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
9.
Keeping in view the above circumstances, let the sale of the auction property shall not be finalized, till 05th March 2026. 10.
Keeping in view the order passed, learned counsel for the petitioner does not press the present petition.
11.
Accordingly, the present petition is disposed of as not pressed. All the rights and contentions of the parties are left open. Pending application(s), if any, also stand disposed of.
12.
The date already fixed i.e., 16th February, 2026 stands cancelled. RAJNEESH KUMAR GUPTA, J JANUARY 27, 2026/nd/abk The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.