Authority: High Court of Judicature at Bombay
Order Date: August 27, 2026
Case Overview
- Petitioners: M/s. Kalpak Polyplastic Industries and others; Respondent: Central Bank of India.
- The petition seeks a limited direction to the Debt Recovery Tribunal‑II, Mumbai (DRT‑II) to consider Interim Application Nos. 2194 of 2026 and 2099 of 2026 filed in Appeal (D) No.131 of 2026, specifically for waiver of pre‑deposit and an interim stay.
- The respondent argues that Section 30A of the Recovery of Debts and Bankruptcy Act, 1993 makes pre‑deposit mandatory and waiver cannot be granted.
- Counsel for petitioners: Mr. Rupak Sawangikar and Mr. Pranav Pramod Rane; counsel for respondent: Adv. Somya and T.N. Tripathi & Co.
Final Outcome
- The Court directs DRT‑II, Mumbai to consider and dispose of Interim Application No.2194 of 2026 as expeditiously as possible, and in any case within six weeks from the date of the order.
- The Court expressly refrains from expressing any opinion on the merits of the parties’ contentions; all rights and contentions remain open.
- Any pending applications in the writ petition are also disposed of.
Topics: Debt Recovery, Banking Litigation