Pegasus Assets Reconstruction Pvt. Ltd. v. M/S. Radiance Properties (I) Private Limited And ANR

p12.ia.988.19.doc Ajay IN IN THE THE HIGH HIGH COURT COURT OF OF JUDICATURE JUDICATURE AT AT BOMBAY BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPELLATE JURISDICTION INTERIM APPLICATION NO. 988 OF 2019 IN CIVIL REVISION APPLICATION NO. 20 OF 2017 Pegasus Assets Reconstruction Ltd.

..Applicant

IN THE MATTER OF:

The Abhyudaya Co-operative Bank ..Applicant

Versus

M/s. Radiance Properties (I) Pvt. Ltd. and Anr. ..Respondents ....................

 Mr. Amit Tungare a/w. Mr. Rishikesh Chindarkar, Advocates for Applicant.

...................

CORAM :MILIND N. JADHAV, J.

DATE :JANUARY 17, 2024.

P.C.:

1.

Not on Board. Mentioned. Taken on Board.

2.

Heard Mr. Tungare, learned Advocate for Applicant. 3.

Present Interim Application seeks substitution of the name of the Applicant in place of the original Revision Applicant i.e. Abhyudaya Co-operative Bank Limited. It is averred in the Application that the debt which is subject matter of Civil Revision Application has been purchased by the Applicant and the same has been assigned to the Applicant - Company by the Revision Applicant - Abhyudaya Cooperative Bank Limited. No details are given in paragraph No.4 of the Interim Application. However the statement made by Mr. Tungare, learned Advocate is noted and accepted by the Court.

p12.ia.988.19.doc 4.

For the reasons mentioned in the Interim Application, there can be no impediment in allowing the Interim Application since the Civil Revision Application will not be prosecuted by the assignee of the debt.

5.

In that view of the matter, Interim Application stands allowed in terms of prayer clause (a). Applicant is permitted to carry out the amendment in the Civil Revision Application in accordance with law to do so within a period of one week from today. Reverification stands dispensed with. 6.

Pursuant to carrying out the amendment, Applicant is permitted to serve a fresh copy of the amended Civil Revision Application on the Respondents within a period of two weeks from today.

7.

With the above directions, Interim Application is allowed and disposed.

8.

List the Civil Revision Application on Board on 07th February, 2024.

9.

Interim Application No.988 of 2019 is disposed. [ MILIND N. JADHAV, J. ] Ajay AJAY TRAMBAK UGALMUGALE Date: 2024.01.17 19:29:46 +0530 AJAY TRAMBAK UGALMUGALE