Debts Recovery Tribunals and Appellate Tribunals
M/S SAPTASHRINGI METAL INDUSTRIES vs INDIABULLS ASSETS RECONSTRUCTION COMPANY LIMITED on 2 November 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson Misc. Appeal Diary No. 2108/2023
Between
M/s. Saptashringi Metal Industries & Ors.
… Appellant/s
V/s.
Indiabulls Assets Reconstruction Company Ltd. …Respondent/s -: Order dated: 02/11/2026: -
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1. Present as under:
Mr. Tejas Girap, i/b Mr. Vivek Phadke, Counsel for Applicants/Borrowers. Mr. Puneet Gogad, Counsel for the Respondent.
2. Heard on I.A. (Diary) No. 1785/2026 for condonation of delay and the I.A. (Diary) No. 1140/2026 for bringing the legal heirs and legal representatives of the deceased Appellant No. 1 on record.
3. The Learned Counsel for the Applicants/Appellants would submit that Appellant No. 1, Mr. Girdhar Asaram Koli, expired on 22.03.2026 and there is a delay of 3 days in filing the application for bringing his legal heirs and legal representatives on record.
4. The Learned Counsel for the Respondent would submit that the applications may be allowed subject to payment of costs.
5. Considering that the delay is merely 3 days and in the interest of justice, the delay is condoned. Accordingly, I.A. (Diary) No. 1785/2026 stands allowed.
6. Consequently, the application (Diary) No. 1140/2026 for bringing the legal heirs and legal representatives of deceased Appellant No. 1 on record is also allowed. The Appellants are permitted to carry out the necessary amendments in the cause title of the appeal in terms of the schedule annexed to the application.
7. Necessary amendments be carried out within one week.
8. List the case on 10.02.2027 for further proceedings. Sd/- Chairperson 02.11.2026
Psa-07