Asset Reconstruction Company (India) ... vs Royal Traders
Judges (2)
Counsel (1)
Case Significance
Asset Reconstruction Company (India) ... vs Royal Traders is a Bombay High Court decision dated December 19, 2024 (citation: ik-141732761). Four connected writ petitions involving ARCIL (as assignee of loan) and the borrower Royal Traders disputing a SARFAESI proceeding. The borrower challenged the DRAT's order requiring pre-deposit, while ARCIL sought enforcement. The Court dismissed the borrower's petition, finding the borrower had no intention of repaying the admitted debt and was attempting to exploit a typographical error in loan assignment documents. The bench comprised Justices Jitendra Jain and M.S. Sonak. The judgment was delivered by Justice M.S. Sonak. Counsel appearing: Anand (counsel for petitioner).
Summary
Four connected writ petitions involving ARCIL (as assignee of loan) and the borrower Royal Traders disputing a SARFAESI proceeding. The borrower challenged the DRAT's order requiring pre-deposit, while ARCIL sought enforcement. The Court dismissed the borrower's petition, finding the borrower had no intention of repaying the admitted debt and was attempting to exploit a typographical error in loan assignment documents.
What was the outcome of Asset Reconstruction Company (India) ... vs Royal Traders?
Four connected writ petitions involving ARCIL (as assignee of loan) and the borrower Royal Traders disputing a SARFAESI proceeding. The borrower challenged the DRAT's order requiring pre-deposit, whil...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (ik-141732761)