Riyasat Palaces Limited v. Edelweiss Asset Reconstruction Company Ltd And Others

CWP-5234 of 2026

IN THE HIGH COURT OF PUNJAB & HARYANA

AT CHANDIGARH CWP-5234 of 2026 Date of decision: 05.03.2026 RIYASAT PALACES LIMITED ....Petitioner V/S EDELWEISS ASSET RECONSTRUCTION COMPANY LTD AND OTHERS ... Respondents CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY, JUDGE

Present:

Mr. Shaurya Khanna, Advocate for the petitioner. Mr. Kashish Narang, Advocate (arguing counsel) (Through V.C.) for Mr. Bharat Mani Goyal, Advocate for the respondent. **** SHEEL NAGU, CHIEF JUSTICE (Oral) 1.

Learned counsel for petitioner does not dispute that S.A. No. 67 of 2026 titled M/s Riyasat Palaces Limited Versus Edelweiss Asset Reconstruction Company Limited and others is pending adjudication before the Debts Recovery Tribunal-II, Chandigarh (for short, 'DRT-II, Chandigarh') with respect to the same subject matter as raised in the present petition.

2.

It would, therefore, be appropriate that DRT-II, Chandigarh takes up and adjudicates the matter, without being prejudiced by the pendency of the present petition.

3.

At this juncture, learned counsel for petitioner prays for withdrawal of present petition with liberty to pursue the aforesaid S.A. No. 67 of 2026 before DRT-II, Chandigarh.

4.

With aforesaid liberty, present petition is dismissed as withdrawn. (SHEEL NAGU) CHIEF JUSTICE (SANJIV BERRY) JUDGE KAMAL GANDHI 2026.03.05 18:03 I attest to the accuracy and integrity of this document 05.03.2026 Kamal Gandhi Whether speaking/reasoned Yes/No Whether reportable Yes/No