Debts Recovery Tribunals and Appellate Tribunals
INDIAN OVERSEAS BANK vs SUPERSHAV SYNTHETICS PVT. LTD AND ORS on 1 October 2026
**DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI**
**Misc. Application No.119/2022
Arising out of O.A. No.220/2018 (DRT, Jaipur)**
**Item No.26**
**Indian Overseas Bank
V.
Supershav Synthetics Private Limited & others**
**01.10.2026 Hon'ble Dr. Justice Sudhir Kumar Jain**
**Present: Ms. Usha Singh, Advocate for Asset Reconstruction Company (India) Limited through VC**
**Sh. Harsh Raj Singh, Advocate for respondentno.6 through VC**
**This matter is taken up through Hybrid hearing.**
**I.A. No.466/2026 (application for substitution)**
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1. The instant application is filed for substitution of the applicant Asset Reconstruction Company (India) Limited (ARCIL) in place of the applicant Indian Overseas Bank in view of Assignment Agreement dated 26.09.2025. It is stated in the application that the applicant has assigned its debts due and payable by the respondents jointly and severally and the securities thereof in favour of ARCIL vide Assignment Agreement dated 26.09.2025. A copy of the Assignment Agreement is also placed on record. After considering all facts, the application is allowed and ARCIL is accordingly substituted in place of the applicant Indian Overseas Bank. Let the amended memo of parties be filed within a week.
2. The Misc. Application bearing no.119/2022 is filed seeking direction to DRT, Jaipur to defer the hearing of I.A. bearing no.1038/2019 filed by Axis Bank in O.A. 220/2018 till the disposal of the Misc. Appeals bearing no.168/2021, 169/2021, 170/2021 and 171/2021 which are stated to be pending before this Tribunal. The present application bearing no.1038/2019 is stated to be still pending before DRT, Jaipur. It is also informed by the counsel for Axis Bank that due to the pendency of the above appeals, no effective proceedings are taking place. Accordingly, the present Misc. Application no.119/2022 is disposed of as does not require any further consideration and adjudication.
----- **(Dr. Justice Sudhir Kumar Jain) Chairperson**
-pk\$