Asset Reconstruction Company (India) ... vs Royal Traders
Judges (2)
Case Significance
Asset Reconstruction Company (India) ... vs Royal Traders is a Bombay High Court decision dated December 19, 2024 (citation: ik-75738879). Four connected writ petitions involving SARFAESI/DRT disputes between Asset Reconstruction Company (India) Ltd. (ARCIL as trustee of ARCIL-CPS-II-Trust) and Royal Traders borrower. The borrower challenged a DRAT order for non-compliance with pre-deposit conditions, alleging a typographical error in a loan assignment document. The Court dismissed the borrower's petition, finding no intention to repay admitted debts, and upheld the DRAT's dismissal for non-compliance with pre-deposit. Interim o The bench comprised Justices Jitendra Jain and M.S. Sonak. The judgment was delivered by Justice M.S. Sonak.
Summary
Four connected writ petitions involving SARFAESI/DRT disputes between Asset Reconstruction Company (India) Ltd. (ARCIL as trustee of ARCIL-CPS-II-Trust) and Royal Traders borrower. The borrower challenged a DRAT order for non-compliance with pre-deposit conditions, alleging a typographical error in a loan assignment document. The Court dismissed the borrower's petition, finding no intention to repay admitted debts, and upheld the DRAT's dismissal for non-compliance with pre-deposit. Interim orders were vacated.
What was the outcome of Asset Reconstruction Company (India) ... vs Royal Traders?
Four connected writ petitions involving SARFAESI/DRT disputes between Asset Reconstruction Company (India) Ltd. (ARCIL as trustee of ARCIL-CPS-II-Trust) and Royal Traders borrower. The borrower challe...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (ik-75738879)