Authority: High Court of Judicature at Bombay (Civil Appellate Jurisdiction)
Order Date: 30 September 2026
Case Overview
- Petitioners: Manish R. Yadav & Anr.; Respondents: J.M. Financial Assets Reconstruction Company Ltd. (secured creditor) and the State represented by Tehsildar, Palghar.
- On 10 August 2026 the Tehsildar issued a notice to take physical possession of the secured asset; petitioners became aware on 21 August 2026.
- Petitioners filed Securitisation Application (Diary) No. 1613 of 2026 and Interim Application (Diary) No. 3326 of 2026 on 5 September 2026, seeking relief before DRT‑III, Mumbai; DRT‑II, Mumbai, being in‑charge, listed the applications on 9 September 2026.
- The Court ordered petitioners to deposit Rs 4,00,000 by 9 September 2026 as an undertaking; interim protection was granted, staying possession until 17 September 2026.
- Petitioners deposited a total of Rs 4,45,000 (including an additional Rs 45,000) before the DRT, after which the secured creditor was allowed to withdraw the amount.
- The DRT disposed of the securitisation application, finding the loan account regularised.
Final Outcome
- With the loan regularised, no relief remained; the writ petition and any pending applications were dismissed by the Bombay High Court on 30 September 2026.
Topics: Debt Recovery, Court Order