Disposed¶18

Bairagra Builders Pvt. Ltd. v. Encore Asset Reconstruction Company Pvt. Ltd.

Bombay HC9 Jan 2026COMS/16/2024

Case brief

AI extract

What is this about?

Withdrawal of commercial suit; plaintiff in CIRP under Insolvency and Bankruptcy Code 2016; NCLAT order dated April 30, 2024 upheld admission into CIRP; Supreme Court Civil Appeal dismissed as withdrawn; instructions from Resolution Professional; challenge to loan assignment; refund of court fees; vakalatnama change of advocate; Bombay High Court; Somasekhar Sundaresan; Bairagra Builders Pvt. Ltd.; Encore Asset Reconstruction Company Pvt. Ltd.

What did the court decide?

Suit disposed of as withdrawn; refund of Court Fees, if any, in accordance with the Rules. ¶18

Bairagra Builders Pvt. Ltd. vs Encore Asset… — Insolvency and Bankruptcy | Bombay HC (2026)

¶1

39.COMS.16.2024.doc

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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ORDINARY ORIGINAL CIVIL JURISDICTION

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COMMERCIAL SUIT NO.16 OF 2024

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Bairagra Builders Pvt. Ltd. ….Plaintiff Versus Encore Asset Reconstruction Company Pvt. Ltd. & Ors. ....Defendants

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Mr. Ryan D’souza a/w. Dhrupad Vaghani, Gayatri Mohite, Ashwath Reddy i/b. Anchorstone Legal, for Plaintiff.

¶7

Mr. Prajakt M. Arjunwadkar (VC) a/w. Omkar Shinde, Jui Gharat & P.S. Hande, for Defendant No.2.

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CORAM: SOMASEKHAR SUNDARESAN, J.

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DATE : JANUARY 12, 2026

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ORDER :

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Liberty to file Vakalatnama since there is a change of advocate.

¶12

On the last occasion, the matter had been stood over to enable the Advocate for the Plaintiff to take instructions from the Resolution Professional ( “RP” ) as to whether it was serious about pursuing this Suit, with particular regard to the fact that it was the assignee of the loan, the assignment of which is under challenge in this suit, had moved the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016 ( “IBC” ) leading to the appointment of the RP.

¶13

Digitally signed by AARTI AARTI GAJANAN GAJANAN PALKAR PALKAR Date: 2026.01.14 17:08:33 +0530

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Page 1 of 2 JANUARY 12, 2026

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Aarti Palkar

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39.COMS.16.2024.doc

¶17

Today, Learned Counsel for the Plaintiff submits that he has instructions to withdraw the Suit and draws attention to the contents of Paragraph 27 of the Order of the National Company Law Appellate Tribunal ( “NCLAT” ) dated April 30, 2024, by which the admission of the Plaintiff into Corporate Insolvency Resolution Process ( “CIRP” ) was upheld. It is also stated that this decision of the NCLAT was further challenged before the Supreme Court and the Civil Appeal was dismissed as withdrawn.

¶18

In these circumstances, taking on record the submission under instructions from the RP, the Suit is disposed of as withdrawn .

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Refund of Court Fees, if any, in accordance with the Rules.

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All actions required to be taken pursuant to this order shall be taken upon receipt of a downloaded copy as available on this Court’s website.

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[ SOMASEKHAR SUNDARESAN, J.]

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Page 2 of 2 JANUARY 12, 2026

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Aarti Palkar

Bairagra Builders Pvt. Ltd. v. Encore Asset Reconstruction Company Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Bairagra Builders Pvt. Ltd. v. Encore Asset Reconstruction Company Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

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Statutes considered

Procedural history

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Coram

Case details

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