Reliance Asset Reconstruction Company Ltd. and Anr. v. Union of India (through Ministry of Corporate Affairs) and Ors.
Case brief
What is this about?
Bombay High Court Writ Petition 16499 of 2025 (Pitale & Shirsat JJ., 12-01-2026): Court directs Debts Recovery Tribunal Mumbai (DRT-3) to expedite pending Stay Applications (IA Diary No.1702 of 2025; IA Diary No. 2000 of 2025) in ongoing Securitisation Application No.218 of 2025; interim direction deferring handing over of possession operative since 06-05-2025 and continuing pending disposal of the stay application; hearing fixed for 16-01-2026; applications to be disposed of on or before 23-01-2026; compliance report before the Court on 28-01-2026. Court declines to mandate hearing of the Securitisation Application itself alongside the Interim Applications. Keywords: securitisation application; possession deferral; stay application; interim direction; tribunal directions; expedition; compliance reporting.
What did the court decide?
Court issued directions to the Debts Recovery Tribunal: the stay applications bearing IA Diary No.1702 of 2025 and IA Diary No. 2000 of 2025 to be taken up for consideration and hearing on the next date of listing (16th January 2026); hearing to be ensured on that date and the applications disposed of on or before 23rd January 2026; petition to be listed for reporting compliance on 28th January 2026 (High on Board). The petition was not finally disposed of at this sitting.