Case Name: MSEB Holding Co. Ltd. & Anr. vs. The Hong Kong & Shanghai Banking Corporation Limited & Ors.
Court/Authority: Supreme Court of India, Civil Appellate Jurisdiction.
Case Numbers: M.A. No.2065 of 2025, M.A. (Diary) No.69596 of 2025, SLP (C) No.7870 of 2025.
Order Date: 21 May 2026.
Relevant Timeline: Suit instituted in 2001; High Court decree dated 17 December 2024 directing possession by 31 March 2025; SLP dismissed on 24 March 2026; extensions granted to 31 December 2025 and subsequently to 30 June 2026.
Respondents (Decree‑Holder): The Hong Kong & Shanghai Banking Corporation Limited & Ors.
Counsel for Petitioners: Mr. Mehta (Learned Solicitor General), Mr. Anjan Dasgupta, Ms. Rimali Batra, Mr. Abhishek Lalwani, Mr. Shivang Gupta, M/s D.S.K. Legal, AORs Navneet R., Rajendra Barot, Mr. Vivek Shetty, Ms. Cheryl Fernandes, Mr. Ayush Chadha, Mr. Naman Nayyar, Ms. Alankrita Sinha.
Counsel for Respondents: Mr. Anjan Dasgupta, Ms. Rimali Batra, Mr. Abhishek Lalwani, Mr. Shivang Gupta, M/s D.S.K. Legal, AOR Mr. Deepak Nargolkar (Sr. Adv.), Mr. Anandh K (AOR), Ms. Shraddha Dube Patil, Ms. Iyer Shruti Gopal, Mr. Ang Bajaj, Mr. Anirudh Kate.
Valuer: M/s Shetgiri & Associates (appointed by Registrar General of the High Court).
Issues / Allegations / Violations
Possession of the decretal property (commercial premises on the 3rd and 4th floors of the "HSBC building" at M.G. Road, Fort, Mumbai) by the petitioners.
Multiple requests by petitioners for extensions of time to vacate the premises (initial deadline 31 Mar 2025, later extended to 31 Dec 2025, then to 30 Jun 2026).
Objection by the respondent to the valuation report prepared by Shetgiri & Associates, which estimated a fair monthly rent of Rs 58,73,167 for the total area of 23,306.22 sq ft.
Petitioners’ request for a further extension till 30 September 2026 and for revision of the payable amount.
Findings & Observations
The Supreme Court was not inclined to interfere with the High Court’s decree and dismissed the Special Leave Petition.
The Court granted liberty to the petitioners to vacate the premises by 31 December 2025 upon filing requisite undertakings by 17 April 2025.
Upon subsequent applications, the Court extended the vacate deadline to 30 June 2026 but refused any further extension beyond this date.
The Court noted that the eviction suit originated in 2001 and that the termination of tenancy preceded the suit; therefore, further indulgence would be unjust.
While acknowledging the respondent’s objection to the valuation, the Court declined to revise the amount payable at this stage, directing that the matter be examined by the appropriate inquiry court.
Penalties / Settlements / Directions
Vacate Order: Petitioners must vacate the decretal property by 30 June 2026 without fail.
Undertaking Deadline: Petitioners must file the required undertakings by 17 April 2025.
Valuation: The fair monthly rent is set at Rs 58,73,167 as per the Shetgiri & Associates report; any dispute over this amount is to be resolved by an inquiry court under Order 20 Rule 12 of the Code of Civil Procedure, 1908.
Further Extensions: No further extensions beyond 30 June 2026 are permitted.
Corrective Actions & Future Obligations
Petitioners must surrender possession of the premises to the respondent by the stipulated deadline.
Petitioners must comply with the filing of undertakings as directed.
Any disagreement regarding the payable rent or other financial obligations shall be addressed by the designated inquiry court, which will consider the valuation report, objections, and any additional material.
Final Ruling & Enforcement
All miscellaneous applications (including IA No.193045/2025, IA No.303021/2025, IA No.313984/2025, IA No.314000/2025) are disposed of as per the non‑reportable signed order.
Any pending interlocutory applications, if existent, are deemed disposed of.
The order is enforceable immediately, and failure to vacate by 30 June 2026 may result in further contempt or enforcement proceedings as per applicable law.
