Reliance Asset Reconstruction Company Ltd. And ANR v. Union Of India (Through Ministry Of Corporate Affairs) And ORS
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
Digitally signed by PURTI PRASAD PARAB Date:
2026.01.13 11:27:57 +0530 PURTI PRASAD PARAB CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 16499 OF 2025 Reliance Asset Reconstruction Co. Ltd.
and Anr.
...Petitioners
Versus
Union of India and Ors.
...Respondents
_______ Mr. Charles Desouza a/w Mr. Aayush Kothari, Mr. Nikhil Rajani, Mr. Ajay Deshmane i/b V. Deshpande for Petitioner.
Mr. Vinit Jain a/w Shazia Ansari and Mr. Gaurav Mhatre for Respondent No.1 - UOI.
Ms. Prachi Vazalwar a/w Mr. Omkar Kanegavkar i/b Mr. Swapnil Balajiwale for Respondent Nos. 2 to 6.
_______
CORAM:
MANISH PITALE & SHREERAM V. SHIRSAT, JJ.
DATE:
12th JANUARY 2026.
P.C.
1.
Heard Learned Counsel for the parties.
2.
It is brought to our notice that in the pending proceeding before the Debts Recovery Tribunal Mumbai (DRT - 3) an order deferring handing over possession has been operating since 6th May 2025, thereby restraining the Petitioners to proceed in the matter for taking possession. The order passed by the DRT in the pending proceedings concerning Securitisation Application No.218 of 2025 shows that initially such an interim direction was issued pending decision on the amendment application. The said application was partly allowed but as per order passed on 9th June 2025 the aforesaid interim direction deferring possession was directed to operate
till the stay application stood disposed of.
3.
It is submitted on behalf of the Petitioners that hearing of the Stay Application is being deferred from time to time as a consequence of which the interim direction continues to operate against the Petitioner. It is brought to our notice that the next date of hearing on the Stay Application is 16th January 2026. In that light, it is submitted that this Court may consider issuing a positive directions to the DRT to decide the stay application at the earliest.
4.
On the other hand, Learned Counsel appearing for Respondent Nos. 2 to 6 submits that this Court may consider directing the DRT to hear the Securitisation Application itself along with the pending Interim Applications so that the whole controversy can be put to rest. 5.
We are of the opinion that, considering the pressure of work on the DRT, it would not be appropriate to issue the direction sought on behalf of Respondent Nos.2 to 6. It would be appropriate that pending Stay Applications are decided at the earliest so that the grievance of the Petitioner with regard to the continued operation of the interim direction pertaining to deferring the possession does not continue for a longer period of time.
6.
In view of the above, the DRT is directed to take up the stay applications bearing IA Diary No.1702 of 2025 and IA Diary No. 2000 of 2025 for consideration and hearing on the next date of listing i.e. 16th January 2026.
7.
The DRT shall ensure that hearing on the said applications is conducted on the said date and the applications are disposed of on or before 23rd January 2026.
8.
List this petition for reporting compliance on 28th January 2026 (High on Board).
(SHREERAM V. SHIRSAT, J.) (MANISH PITALE, J.)