Debts Recovery Tribunals and Appellate Tribunals
LLOYDS REALTY DEVELOPERS LIMITED vs RARE ASSET RECONSTRUCTION LIMITED AND OTHERS on 18 August 2026
Reportable/Non-Reportable
Appeal No. 27 of 2026-DRAT-Kolkata
**IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA**
Appeal No. 27 of 2026
(Arising out of Appeal No. 01 of 2025 in DRT -I, Kolkata)
**HON'BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA
CHAIRPERSON**
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1. 1. Lloyds Realty Developers Limited, A2, 2<sup>nd</sup> Floor, Madhu Estate, Pandurang Budhkar Marg, Lower Parel, Mumbai 400013.
....Appellant
-Versus-
1. 1. Rare Asset Reconstruction Limited, Gala Argos, Beside Hari Krupa Tower, Gujarat College Road, Ellisbridge, Ahmedabad - 380006.
2. 2. Genelec Limited (in liquidation) 5<sup>th</sup> Floor, Bank of Indian Building, Mahatma Gandhi Road, fort, Mumbai -400023 been represented by Official Liquidator.
3. 3. Malayvrunda Creative Home Makers Private Limited, C-2/703, Satellite Classi, Caves Road, Jogeswari East, Mumbai - 400060.
4. 4. Invent Asset Securitization and Reconstruction Pvt. Ltd. 107, Jolly Maker Chambers No. 2 225, Nariman Point, Mumbai-400021.
5. 5. United Spirits Limited having its office at 19/1 and 19/2, 18<sup>th</sup> Floor, Merlin Acropolis, 1858/1, Rajdanga Main Road, Kolkata - 700107.
... Respondents
Counsel for Appellant
Mr. Nimish Mishra, Mr. D. Basu Roy, Learned Counsel Counsel for Respondents Mr. Krishna Raj Thakker, Learned Senior Advocate, Mr. Arindam Chandra, Learned Counsel for R-3
Mr. Malay Kumar Ghosh, Learned Senior Advocate, Mr. Basudeb Mukherjee, Learned Counsel for R-4.
2Appeal No. 27 of 2026-DRAT-Kolkata**JUDGMENT**
:
**18<sup>th</sup> August, 2026****THE APPELLATE TRIBUNAL:**
Judgment and order in Appeal No. 27 of 2026 is pronounced today in Court, which is kept in separate sheets containing twenty two pages.
Order is as under:
"Appeal is dismissed. Impugned order dated 20<sup>th</sup> May, 2025 passed by Learned DRT-I Kolkata in Appeal No. 01 of 2025 (***Lloyds Realty Developers Limited versus Rare Asset Reconstruction Limited, and others***) is confirmed.
No Order as to costs.
(Anil Kumar Srivastava, J) Chairperson
10.8.2026
Dated: 18<sup>th</sup> August, 2026 tp