M/S Lpr Company Pvt. Ltd. & ANR. v. Pegasus Assets Reconstruction Pvt Ltd & ANR.

$~29 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 1200/2026 & CM APPL. 5892/2026 M/S LPR COMPANY PVT. LTD. & ANR. .....Petitioners Through:

Ms. Malvika Trivedi, Sr. Adv.

with Mr. Nikhil Palu, Mr.

Ashish Kumar Sharma & Ms.

Niyati Razdan, Advs.

versus PEGASUS ASSETS RECONSTRUCTION PVT LTD & ANR.

.....Respondents Through:

Mr. Amar Dave, Sr. Adv. with Ms.

Usha Singh & Mr.

Shahrukh Inam, Advs. for R-1.

Mr. Rajeev Mehra, Sr. Adv.

with Ms. Pranati Bhatnagar & Mr. Dhairya B., Advs. for R-2.

CORAM:

HON'BLE MR. JUSTICE VIVEK CHAUDHARY HON'BLE MS. JUSTICE RENU BHATNAGAR

O R D E R

% 29.01.2026 CM APPL. 5893/2026 (Exemption) 1.

Allowed, subject to all just exceptions.

2.

The application stands disposed of.

W.P.(C) 1200/2026 & CM APPL. 5892/2026 (stay) 3.

The present petition has been filed under Article 226 & 227 of the Constitution of India for issuance of appropriate writ, orders or directions in the nature of writ of certiorari and/or any other writ or order thereby setting aside the impugned order dated 19.01.2026 passed by the learned PO, DRT-II, Delhi in SA No. 248/2025, for The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 31/01/2026 at 14:44:04

setting aside the auction dated 21.08.2025 conducted by respondent no. 1 also for restraining the learned Court Commissioner from removing the goods lying at the subject property and for issuance of appropriate directions to dispose of the SA expeditiously in time bound manner.

4.

A preliminary objection has been raised by the learned counsel for the respondents that an alternate remedy of appeal before DRAT is available to the petitioners against the impugned order of DRT. 5.

Learned Senior Counsel for the petitioners prays to withdraw the present petition with liberty to file an appeal before DRAT. She submits that the matter is old and may be considered expeditiously. 6.

The petition is accordingly dismissed as withdrawn, with liberty as prayed for.

7.

This Court expects that DRAT shall consider the appeal, if filed by the petitioners, as expeditiously as possible. 8.

Pending application also stands disposed of.

VIVEK CHAUDHARY, J RENU BHATNAGAR, J JANUARY 29, 2026/r/kp The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 31/01/2026 at 14:44:04