Dwarka Iron Industries Pvt Ltd v. Competent Authority (Under Mpid Act 1999) And ANR

Sharayu Khot.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 5272 OF 2025 Dwarka Iron Industries Pvt.Ltd.

...Petitioner

Versus

Competent Authority (Under MPID Act, 1999) & Anr.

...Respondents

---------- Mr. Ashish Kamat, Senior Counsel a/w Mr. Subir Kumar, Ms. Vaishnavi Pawar, Ms. Diksha Pandey, Mr. Ankush Rai i/by SDS Advocates for the Petitioner.

Mr. B.V. Samant, Add.G.P. a/w Mr. P.J. Gavhane, AGP for the Respondent-State.

---------- CORAM : R.I. CHAGLA J FARHAN P. DUBASH, J DATE :

14 October 2025 ORDER :

1.

By this Writ Petition, the Petitioner is seeking direction to the Respondent No. 1 to forthwith release the attached property of the Corporate Debtor situated at Survey No. 272/1, Chaityal Village, SHARAYU PANDURANG KHOT Pargi Mandal, Dist-Rangareddy, Pincode : 501501, Telangana ("the Digitally signed by SHARAYU PANDURANG KHOT Date:

2025.10.14 18:31:32 +0530 subject property") to the Petitioner for successful resolution of the 1/3

Corporate Debtor under the provisions of the IBC, 2016. There are other consequential prayers, but at present for the purpose of considering the interim relief to be granted, this prayer is pressed. 2.

Mr. Ashish Kamat, the learned Senior Counsel appearing for the Petitioner, has stated on instructions that the Petitioner is willing to secure the Respondent No. 1 for the purported claim made by Respondent No. 1, i.e. a sum of Rs. 64,00,000/-, as stated in paragraph 14 of the Affidavit in Reply of Respondent No. 1. He states that security will be provided as and by way of bank guarantee drawn on a scheduled nationalised bank in the name of the Registry for the said sum of Rs. 64,00,000/-. This will be subject to the outcome of the present Petition.

3.

The learned AGP Mr. Samant for the Respondents states that instructions will be taken with regard to the above statement. 4.

Accordingly, the Writ Petition shall be placed on 16th October 2025 on the supplementary board.

5.

At this stage, Mr. Kamat has sought permission to amend 2/3

the prayer clauses in the Writ Petition by adding interim prayer in terms of the final prayer, i.e. prayer clause (b). 6.

Leave is granted. The Petitioner shall carry out amendment in the above terms by tomorrow. Re-verification is dispensed with.

7.

Stand over to 16th October 2025 on the supplementary board.

[FARHAN P. DUBASH, J.] [R.I. CHAGLA J.] 3/3