Authority: High Court of Judicature at Bombay (Civil Appellate Jurisdiction)
Order Date: 29 September 2026
Case Overview
- Petitioner: Vaibhav Pandharinath Patil; Respondents: Canara Bank and others.
- Petition filed as Writ Petition No. 12859 of 2026 seeking urgent intervention regarding Securitisation Application (Diary) No. 1679 of 2026 filed before Debts Recovery Tribunal‑III (DRT‑III), Mumbai on 12 September 2026.
- The petitioner alleged that DRT‑III had not listed the application for hearing before the scheduled physical possession of the secured asset on 30 September 2026 at 11:00 a.m., and that a circulation granted for 1 October 2026 would render any interim relief ineffective.
- The Court noted that the delay burdened the writ court docket and that circulation beyond the possession date defeats the purpose of interim relief. The respondent bank’s reply was taken on record.
Final Outcome
- The Court directed DRT‑II, Mumbai (in charge of DRT‑III) to take up the securitisation application and accompanying interim applications for urgent consideration on 30 September 2026.
- The DRT‑II shall decide on ad‑interim/interim relief on its merits on the same day.
- The physical possession scheduled for 30 September 2026 at 11:00 a.m. is deferred to 4:00 p.m. the same day to allow the DRT‑II hearing.
- The Court expressly refrained from expressing any opinion on the merits and stated that the DRT‑II should not be influenced by this order.
- The rights and contentions of the parties remain open.
Topics: Debt Recovery, Securitisation, Court Order