Debts Recovery Tribunals and Appellate Tribunals
MS SILICON JEWEL INDSTRIES PVT LTD AND OTHERS vs UNION BANK OF INDIA on 19 August 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson
I.A. No. 28/2026 (Stay)
In
Regular Appeal No. 02/2026
Between
M/s. Silicon Jewel Industries Pvt. Ltd. & Ors.
… Appellant/s
V/s.
The Authorised Officer,
Union Bank of India & Ors.
…Respondent/s
-: Order dated: 19/08/2026: -
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
Loading the citing and cited decisions…
This judgment in the centre: on the left the decisions it cites, on the right the decisions citing it. Colour is the treatment; choose a decision to open it.
1. Present as under:
Mr. Ritesh Patadia, Counsel for Appellants/Borrowers. Mrs. Uma Fadia, Counsel for Respondent No.1/Bank. Mr. Sidharth S., Counsel for Respondent No.2. Mr. Hitesh Phulwani along with Ms. Neha Jeswani, Counsel for Respondent No.3.
2. of the Commercial Property would submit that, after the order dated 15.07.2026 passed by this Appellate Tribunal, Respondent No. 2 had approached the Hon’ble High Court of Gujarat at Ahmedabad by way of R/Special Civil Application No. 10584/2026; that, vide order dated 03.08.2026 passed by the Hon’ble High Court in the Civil Application, liberty was granted to Respondent No. 2 and the Appellants to file afresh the applications which were dismissed by this Appellate Tribunal vide its order dated 15.07.2026.
3. The Learned Counsel for the Appellants/Borrowers would submit that pursuant to the liberty granted by the Hon’ble High Court vide its order dated 03.08.2026, the Appellants/Borrowers have filed three applications, being I.A. Nos. 493/2026, 494/2026 & 495/2026.
4. The Learned Counsel for Respondent No. 2/Auction Purchaser of the Commercial Property would submit that he has also filed I.A. No. 487/2026 pursuant to the liberty granted by the Hon’ble High Court vide its order dated 03.08.2026 in the aforesaid Civil Application.
5. The Learned Counsel for Respondent No. 1/Bank would submit that the copies of the I.As. filed by the Appellants/Borrowers were supplied to her only yesterday evening and due to the short time, the replies could not be filed; that, these applications are in the nature of substantive relief. Therefore, replies are required to be filed.
6. of the Commercial Property would submit that no relief has been sought against Respondent No. 2 in the stay application. Therefore, there is no need to file a reply thereto.
7. The Learned Counsel for the Respondent No.3/Auction Purchaser of the House Property would submit that he would like to file a reply/objection to the I.A. No. 494/2026.
8. Keeping in mind that the Hon’ble High Court has directed that these four applications be decided on or before 31.08.2026, the Respondents who have sought time to file replies to the respective I.As. are directed to file the replies within three days.
9. List the case on 25.08.2026 for hearing as on all other dates till then, the matters to be decided in a time-bound period are listed. Sd/- Chairperson Psa-04