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-47701999). Royal Traders, a borrower, challenged DRAT orders dismissing its appeal for non-compliance with pre-deposit directions under the SARFAESI Act, while ARCIL filed connected petitions regarding assignment of loan. The Division Bench found the borrower had no intention of repaying admitted debt and was trying to exploit a typographical error in a loan assignment document. The borrower's petition was dismissed and ARCIL's petitions were disposed of. 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
Royal Traders, a borrower, challenged DRAT orders dismissing its appeal for non-compliance with pre-deposit directions under the SARFAESI Act, while ARCIL filed connected petitions regarding assignment of loan. The Division Bench found the borrower had no intention of repaying admitted debt and was trying to exploit a typographical error in a loan assignment document. The borrower's petition was dismissed and ARCIL's petitions were disposed of.
What was the outcome of Asset Reconstruction Company (India) ... vs Royal Traders?
Royal Traders, a borrower, challenged DRAT orders dismissing its appeal for non-compliance with pre-deposit directions under the SARFAESI Act, while ARCIL filed connected petitions regarding assignmen...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (ik-47701999)