Prabhat Plaza Pravate Limited And ORS v. The Registrar Debt Recovery Tribunal Mumbai Iii And

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 5864 OF 2026 Prabhat Plaza Private Limited and Others ...

Petitioners

Versus

The Registrar, DRT, Mumbai- III and Another ...

Respondents VISHAL SUBHASH PAREKAR ****** Mr. Vivek Patil a/w. Mr. Afsar Ansari, Ms. Apurva Renake, for the Petitioners. None for the Respondents.

******

CORAM

: MANISH PITALE AND VISHAL SUBHASH PAREKAR Date: 2026.05.05 10:35:23 +0530 SHREERAM V. SHIRSAT, JJ.

DATE : 4th MAY, 2026 P.C. :

1.

This petition is filed by borrowers for a limited direction to Debts Recovery Tribunal- II, Mumbai, In-charge of DRT-III, for expeditious disposal of pending Interim Application No. 2953 of 2025 in Securitisation Application No. 218 of 2023.

2.

Respondent No. 1 is the Registrar of DRT-III, Mumbai while Respondent No. 2 is the secured creditor.

3.

Considering the limited direction sought on behalf of the petitioners, we are of the opinion that notice need not be issued to the respondents, as a direction for expeditious disposal of the Interim Application would be in the interest of all the concerned parties.

Vishal Parekar ....1

15-wp-5864-2026.doc 4.

We are informed that repeated attempts have been made by respondents No. 2 for conducting auction of the secured asset, but due to the fact that no bidders have come forward the auctions have not materialized into any auction purchaser coming into the picture. In this backdrop, in the aforementioned Interim Application, the petitioners have made certain claims and they are also seeking certain reliefs. We are informed that the next date of listing of the said Interim Application is 22nd June, 2026. We are of the opinion that the date can be advanced and the Interim Application can be heard and disposed of in a time bound manner, in the interest of justice. 5.

In view of the above, the Writ Petition is disposed of by directing the DRT -II, Mumbai, In-charge of the DRT-III, Mumbai to take up Interim Application No. 2953 of 2025 in Securitisation Application No. 218 of 2023 for directions on 11th May, 2026. It shall be ensured that the pleadings in the Interim Application are completed at the earliest, if not already completed. 6.

Thereupon, DRT-II, Mumbai, In-charge of DRT -III, Mumbai shall take up hearing of the said Interim Application and dispose of the same as expeditiously as possible and in any case on or before 30th June, 2026. (SHREERAM V. SHIRSAT, J.) (MANISH PITALE, J.) Vishal Parekar ....2