Debts Recovery Tribunals and Appellate Tribunals
JM Financial Asset Reconstruction Company Limited vs Veer Guriar Aluminum Industries Private Limited on 24 September 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson
I.A. No. 726/2024 (Stay)
In
Regular Appeal No. 75/2024
Between
Assets Reconstruction Co. India Ltd.
… Appellant/s
V/s.
Veer Guriar Aluminum Industries Pvt. Ltd.
…Respondent/s
And
I.A. No. 725/2024 (Stay)
In
Regular Appeal No. 74/2024
Between
JM Financial Asset Reconstruction Co. Ltd.
… Appellant/s
V/s.
Veer Guriar Aluminum Industries Pvt. Ltd.
…Respondent/s
-: Order dated: 24/09/2026: -
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1. Present as under:
Mr. Charles De’Souza along with Mr. T. N. Tripathi, i/b M/s. T.N. Tripathi & Co., Counsel for Appellant. Ms. Pranjali A., i/b Mr. Harish Adwant (through VC), Counsel for Respondent.
2. The Learned Counsel for the Appellant would submit that he has filed I.A. (Diary) No. 1743/2026 online. However, he could not file the physical copy of the said application till yesterday. He would further submit that a copy of the said application has been served upon the Respondent.
3. The Learned Counsel for the Respondent would submit that the Hon’ble High Court, in Writ Petition No. 7805/2026 filed by the Appellant himself, had directed this Appellate Tribunal to decide the appeals within a time-bound manner. He would further submit that the Appellant is now seeking to delay the decision of the appeals by moving the present application; that, a copy of which has not been served upon the Respondents.
4. At this stage, the Learned Counsel for the Appellant would submit that he will file the physical copy of the application and seeks an adjournment.
5. Considered.
6. The order dated 03.09.2026 passed by the Hon’ble High Court in Writ Petition No. 7805/2026 directed this Appellate Tribunal to decide the appeals within eight weeks from 03.09.2026. Three weeks have already elapsed from the date of the said order.
7. It appears that the Appellant is seeking to delay the proceedings by filing the present application at this stage.
8. However, in the interest of justice, the adjournment is granted, subject to payment of costs of ₹30,000/- to the Prime Minister’s Relief Fund, to be deposited within one week.
9. List the case on 07.10.2026 for hearing. Sd/- Chairperson 24.09.2026 Psa- 01 & 02