Konshila Infrastructure Pvt Ltd v. Pegasus Asset Reconstruction Pvt Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 17747 OF 2025 M/s. Konshila Infrastructure Pvt. Ltd.

And Anr.

...Petitioners

Versus

Pegasus Asset Reconstruction Pvt. Ltd.

And Ors.

...Respondents

__________ Mr. Sidharth Samantaray a/w Mr. Niket Harit i/b Mr. Manoj Harit & Co., learned Advocates for the Petitioners.

Mr. Rishabh Shah i/b Mr. Amit Tungare, learned Advocate for Respondent No. 1.

__________ CORAM :

ASHWIN D. BHOBE, J.

[VACATION COURT] DATE :

30th DECEMBER, 2025.

P.C. :

1.

This Petition was circulated on the ground of urgency as mentioned in the praecipe dated 30.12.2025.

2.

Heard Mr. Sidharth Samantaray, learned Advocate for the Petitioners and Mr. Rishabh Shah, learned Advocate for the Respondents.

3.

Petitioners submits that the reason for mentioning this Petition and seeking a circulation is that the auction sale was conducted on 23.12.2025 and the Sale Certificate has been issued. He submits that the Interlocutory Application before the Debts Recovery Tribunal-I, Mumbai was listed today, however the same could not

be taken up, as the Presiding Officer of DRT-I, Mumbai was not available.

4.

Mr. Rishabh Shah, learned Advocate for Respondent No. 1 submits that the Sale Certificate has been issued pursuant to the auction concluded on 23.12.2025.

5.

Petitioners submits that though the prayers in the present Petition are widely worded, however he has instructions to restrict the prayer clause seeking a direction by requesting the Presiding Officer, DRT-I, Mumbai to hear and decide the Interlocutory Application No. 2713 of 2025 filed in Securitisation Application No. 65 of 2024 within a reasonable time. He submits that the said request is made as the Petitioners have good chance to succeed in the said Interlocutory Application. He submits that delay in disposal of the Interlocutory Application would result in creation of third party rights causing prejudice to the Petitioners. 6.

Mr. Rishabh Shah, learned Advocate for Respondent No. 1 in all fairness states that he would not object to the said request of expeditious disposal of Interlocutory Application No. 2713 of 2025. 7.

Considering the peculiar facts and circumstances, the Presiding Officer, DRT-I, Mumbai is requested to make an endevour to dispose of Interlocutory Application No. 2713 of 2025, filed by the Petitioners in Securitisation Application No. 65 of 2024 expeditiously and at any rate within a period of 3 weeks from 01.01.2026. Mr. Sidharth Samantaray, learned Advocate for the Petitioners undertakes to produce this order before the Presiding

Officer, DRT-I, Mumbai.

8.

Petitioners makes a request to Respondent No. 1 to furnish the details of the successful bidder.

9.

Mr. Rishabh Shah, learned Advocate for Respondent No. 1 agrees to furnish the details of successful bidder to the learned Advocate for the Petitioners within a period of 3 days from today. 10.

In view of the above, Writ Petition No. 17747 of 2025 is disposed of.

[ASHWIN D. BHOBE, J.] by GITALAXMI KRISHNA KOTAWADEKAR Date:

2025.12.31 11:06:41 +0530 GITALAXMI KRISHNA KOTAWADEKAR