Disposed

Asset Reconstruction Company (India) Limited v. Parsvnath Developers Limited & Ors.

Delhi HC6 Nov 2025FAO(OS) (COMM)/180/2025

Case brief

AI extract

What is this about?

Intra-court appeal against an ad-interim order staying a final NCLT judgment without applying the three-fold test for injunction. The Division Bench disposed of the appeal, permitting the appellant to seek a fresh ad-interim order from the Single Judge with brief reasons, without expressing any opinion on merits.

What did the court decide?

Liberty granted to appellant to seek a fresh ad-interim order from the learned Single Judge; appeal and pending applications disposed of.

Asset Reconstruction Company (India) Limited Vs… — Insolvency and Bankruptcy | Delhi HC (2025)

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$~57

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* IN THE HIGH COURT OF DELHI AT NEW DELHI

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- FAO(OS) (COMM) 180/2025, CM APPL. 68518/2025, CM APPL. 68519/2025 and CM APPL. 68520/2025

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ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED

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.....Appellant Through: Mr. Rajiv Nayar, Sr. Adv. with Mrs. Meghna Mishra, Mr. Karan Luthra, Mr. Siddharth Joshi, Ms. Ujjwala Gupta, Mr. Shubham Madan, Advs.

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versus

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PARSVNATH DEVELOPERS LIMITED & ORS.

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.....Respondents Through: Mr. Tanmay Mehta, Mr. Vijay Nair, Mr. Rajat Joneja, Mr. Manoranjan Sharma, Mr. Arpit Dwivedi, Ms. Sakshi Kapoor and Mr. Karan Rajpurohit, Advs.

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CORAM:

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HON'BLE MR. JUSTICE ANIL KSHETARPAL HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

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O R D E R % 06.11.2025

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Learned counsel appearing for the parties is heard at length.

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This Bench is faced with a peculiar situation wherein, by an adinterim order, the final judgment before the duly constituted National Company Law Tribunal (NCLT) has been stayed without the application of the well-established three-fold test for the grant of an injunction.

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The present intra-court appeal is directed against an order passed by the learned Single Judge. In the facts and circumstances of

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This is a digitally signed order.

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The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 07/11/2025 at 12:04:16

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the case, liberty is granted to the Petitioner to make an appropriate request before the learned Single Judge for passing a fresh ad-interim order today or tomorrow, particularly in view of the fact that the proceedings before the NCLT are listed for tomorrow.

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With these observations, the present appeal stands disposed of, with the expectation that the learned Single Judge will proceed to hear the matter and pass appropriate ad-interim order afresh after recording brief reasons in support thereof. All pending applications also stands disposed of.

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Needless to observe, that this Court has not expressed any final opinion on the merits of the case and learned single judge proceed to decide uninfluenced by the observation herein.

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ANIL KSHETARPAL, J

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HARISH VAIDYANATHAN SHANKAR, J NOVEMBER 06, 2025/ sh/rgk

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This is a digitally signed order.

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The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 07/11/2025 at 12:04:16

Asset Reconstruction Company (India) Limited v. Parsvnath Developers Limited & Ors.

Case brief

What is this about?

What did the court decide?

Asset Reconstruction Company (India) Limited v. Parsvnath Developers Limited & Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

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