Vasai Vikas Sahakari Bank Limited vs The Joint Registrar National Company ...

ik-196665723 Bombay High Court 5 March 2026 • WRIT PETITION NO.475 OF 2026 • 8 min read

Judges (2)

Manish Pitale Delivered Shreeram V. Shirsat Coram

Counsel (4)

Mishra Legals Firm Jeet Gandhi Counsel Respondent Manoj Kumar Mishra Counsel Petitioner Rahul Arora Counsel Respondent

Parties (2)

Joint Registrar, National Company Law Tribunal, Mumbai Bench Respondent Vasai Vikas Sahakari Bank Limited Petitioner

Case Significance

Vasai Vikas Sahakari Bank Limited vs The Joint Registrar National Company ... is a Bombay High Court decision dated March 5, 2026 (citation: ik-196665723). A cooperative bank (secured creditor) challenged the misuse of IBC Sections 94-96 by defaulting debtors who filed applications before the NCLT claiming interim moratorium was automatically triggered, thereby stalling the bank's lawful recovery proceedings. Following the Division Bench precedent in Bank of Baroda vs Union of India, the court found a strong prima facie case that the application had not been duly registered by NCLT and interim moratorium was not triggered. The DRT orders staying The bench comprised Justices Manish Pitale and Shreeram V. Shirsat. The judgment was delivered by Justice Manish Pitale. Counsel appearing: Jeet Gandhi (counsel for respondent), Manoj Kumar Mishra (counsel for petitioner), Rahul Arora (counsel for respondent).

Summary

A cooperative bank (secured creditor) challenged the misuse of IBC Sections 94-96 by defaulting debtors who filed applications before the NCLT claiming interim moratorium was automatically triggered, thereby stalling the bank's lawful recovery proceedings. Following the Division Bench precedent in Bank of Baroda vs Union of India, the court found a strong prima facie case that the application had not been duly registered by NCLT and interim moratorium was not triggered. The DRT orders staying securitisation proceedings were stayed and the bank's recovery proceedings were allowed to continue.

What was the outcome of Vasai Vikas Sahakari Bank Limited vs The Joint Registrar National Company ...?

A cooperative bank (secured creditor) challenged the misuse of IBC Sections 94-96 by defaulting debtors who filed applications before the NCLT claiming interim moratorium was automatically triggered, ...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-196665723)