IARC SLP Dismissed by Supreme Court

Authority: Supreme Court of India

Order Date: 28-09-2026

Case Overview

• Petitioner: International Asset Reconstruction Company Pvt. Ltd. (IARC)
• Respondents: Uttar Pradesh State Textile Corporation Ltd. and others
• The Special Leave Petition (Civil) Diary No. 56164/2026 arose from the impugned final judgment and order dated 26‑05‑2026 in WRITC No. 6398/2021 of the Allahabad High Court.
• Counsel for petitioner: Senior Advocate Gaurav Agarwal, Advocate Abhinav Agrawal, AOR Piyush Bhardwaj.
• Bench: Hon’ble Mrs. Justice B.V. Nagarathna and Hon’ble Mr. Justice R. Mahadevan.

Court Findings & Directions

1. Delay condoned.

2. After hearing senior counsel for the petitioner, the Court expressed no inclination to interfere with the High Court’s order.

3. The Special Leave Petition is dismissed.

4. The matter is restored to the file of the Debt Recovery Appellate Tribunal (DRAT); the Tribunal is directed to dispose of the appeal as expeditiously as possible.

5. Any pending applications, if any, are ordered to stand disposed.

Final Outcome

• The High Court’s judgment dated 26‑05‑2026 remains effective; IARC’s challenge is rejected, and the appeal proceeds before DRAT for swift disposal.

Topics: Court Order, Debt Recovery, Insolvency