Jm Financial Asset Reconstruction Company Ltd. and Anr. vs Veer Gurjar Aluminum Industries Pvt. Ltd. — Bombay HC (2026) — LawSathi Research

Jm Financial Asset Reconstruction Company Ltd. and Anr. vs Veer Gurjar Aluminum Industries Pvt. Ltd. — Bombay HC (2026) — LawSathi Research

What the court decided

AI extract

Outcome

Extension of time granted: respondents to file reply affidavits in DRAT Appeal Nos. 74 and 75 of 2024 by 11 May 2026; petitioners' rejoinders by 18 May 2026; DRAT to dispose of pending appeals by 15 June 2026.

Issue for consideration

Whether an extension of time should be granted to the respondents to file their reply affidavits in pending Appeals Nos. 74 of 2024 and 75 of 2024 before the DRAT, beyond the deadlines fixed by the Court's order dated 30/03/2026, and what consequential adjustments follow for the rejoinder deadline and the DRAT disposal timeline.

Court's answer

Considering the reasons put forth on behalf of the respondents (death in the family of Directors of respondent No.1-Company), the Court granted an extension of time for filing the reply affidavits.

Ratio / Principle

Respondents in both writ petitions were permitted to file their reply affidavits in pending Appeal Nos. 74 of 2024 and 75 of 2024 on or before 11 May 2026.

Key takeaways

The time period for the petitioners to file their rejoinder affidavits was consequently extended to 18 May 2026.ratio¶36
The DRAT was granted additional time to dispose of the pending appeals on or before 15 June 2026.ratio¶36

Detailed headnote1 paragraphs

Bombay High Court (Civil Appellate Jurisdiction), Manish Pitale & Shreeram V. Shirsat, JJ., 4 May 2026 - Praecipe disposal granting extension of time. Two writ petitions (No. 14697 of 2025 - Assets Reconstruction Co. India Ltd v. Veer Gurjar Aluminum Industries Pvt. Ltd; No. 14700 of 2025 - JM Financial Asset Reconstruction Company Ltd v. Veer Gurjar Aluminum Industries Pvt. Ltd), earlier disposed of by order dated 30/03/2026 with directions to file reply affidavits by 24 April 2026, rejoinders by 28 April 2026, and for the DRAT to dispose of pending Appeals Nos. 74 and 75 of 2024 by 31 May 2026. On praecipe mention, respondents sought extension citing a death in the family of Directors of respondent No.1-Company; the Court permitted reply affidavits by 11 May 2026, extended the rejoinder deadline to 18 May 2026, and gave the DRAT until 15 June 2026 to dispose of the pending appeals. The praecipe was disposed of; the Court expressed no opinion on the merits.

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION

WRIT PETITION NO.14697 OF 2025

Assets Reconstruction Co. India Ltd .. Petitioners and Anr.

V/S.

Veer Gurjar Aluminum Industries .. Pvt. Ltd and Ors.

Respondents

WITH

WRIT PETITION NO. 14700 OF 2025

Digitally signed by VARSHA VARSHA DEEPAK DEEPAK GAIKWAD GAIKWAD Date: 2026.05.05 11:37:37 +0530

JM Financial Asset Reconstruction .. Petitioners Company Ltd and Anr. V/S.

Veer Gurjar Aluminum Industries .. Pvt. Ltd and Ors.

Respondents

Mr. Harish Adwant with S.V. Adwant, for respondents.

CORAM : MANISH PITALE & SHREERAM V. SHIRSAT, JJ. DATE : 4TH MAY 2026.

PC:

Not on board. Mentioned by way of praecipe.

In these two writ petitions, which were disposed of by an order dated 30/03/2026, the operative directions read as follows:

“ 7. In that view of the matter, the writ petitions are

disposed of by issuing the following directions:

(a) The respondents in both these writ petitions shall

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file their reply affidavits in the pending appeals i.e. Appeal Nos. 74 of 2024 and 75 of 2024 on or before 24^th April 2026.

(b) Rejoinder affidavit, if any, on behalf of the petitioners shall be filed in the pending appeals before the DRAT on or before 28^th April 2026.

The DRAT will take up the aforesaid pending appeals for hearing on 29^th April 2026 and disposed of both the appeals at the earliest and in any case on or before 31^st May 2026.

The writ petitions are disposed of. Pending applications, if any, also stand disposed of. It is made clear that this Court has not expressed any opinion on the merits of the matter."

Learned counsel for the respondents submits that due to death in the family of Directors of respondent No.1-Company, they were unable to place their reply affidavits on record, pending appeals before the Debt Recovery Appellate Tribunal (DRAT), within the time period granted by this Court. It was submitted that when an attempt was made to place the reply affidavits on record before the DRAT, it was indicated that an appropriate extension of time may be obtained from this Court.

Considering the reasons put forth on behalf of respondents, we are inclined to grant an extension of time.

Accordingly, the respondents in both writ petitions are permitted to file their reply affidavits in pending appeals i.e. Appeal Nos. 74 of 2024 and 75 of 2024 on or before 11^th May 2026.

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Consequently, the time period for the petitioners to file their rejoinder affidavits also stands extended to 18^th May 2026. As a consequence, the DRAT is granted time to dispose of the pending appeals on or before 15^th June 2026.

Praecipe is disposed of.

(SHREERAM V. SHIRSAT, J.)

(MANISH PITALE, J.)

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