Case Details

  • Case name: Exclusive Capital Limited & Ors. v. Kanta Agarwala & Anr.
  • Court: Supreme Court of India
  • Civil Appeal No.: 15207/2025
  • IA No.: 64181/2026 (condonation of delay) and IA No.: 338769/2025 (stay application)
  • Date of order: 22‑May‑2026
  • Period of dispute: Not specified (procedural)

Parties Involved

  • Appellant: Exclusive Capital Limited (and others)
  • Respondent: Kanta Agarwala & Anr.
  • Additional respondent No.3: Reserve Bank of India (as indicated by counsel)
  • Counsel for Appellant: Mr. Apoorv Agarwal (Advocate on Record)
  • Counsel for Respondents: Mr. S. Niranjan Reddy, Sr. Adv.; Mr. Sidhant Kumar, Adv.; Ms. Ekssha Kashyap, Adv.; Mr. Om Batra, Adv.; Mr. S. Uday, Adv.; Mr. Sahil Tagotra, AOR
  • Additional counsel: Mr. Ramesh Babu, M.R., AOR; Ms. Nisha Sharma, Adv.

Issues / Allegations / Violations

  • Delay in filing spare copies of the pleadings.
  • Request for condonation of said delay.
  • No substantive allegations of financial misconduct.

Findings & Observations

  • The Court, after hearing counsel, found the delay condonable.
  • No objection recorded to granting condonation.

Penalties / Settlements / Directions

  • Order condoning delay in filing spare copies.
  • Registry instructed to issue notice to the parties.
  • Counsel Mr. Ramesh Babu to file vakalatnama for RBI (respondent No.3) and a short affidavit within two weeks.
  • Any response to the affidavit may be filed within two weeks thereafter.

Corrective Actions & Future Obligations

  • Parties must comply with the two‑week timeline for filing vakalatnama, affidavit, and any response.
  • The matter is to be re‑listed for hearing on 16‑July‑2026.

Final Ruling & Enforcement

  • Delay condoned; procedural steps set; re‑listing scheduled.
  • No monetary penalties imposed.