Bombay High Court
M/S. OM SAI DECOPLAST PVT LTD THRU DIRECTOR AND ANRversusPEGASUS ASSET RECONSTRUCTION PVT LTD
- Decided
- Disposal
- Disposed off as Withdrawn
Holding
The writ petition is disposed of as withdrawn, and the DRT is directed to expeditiously dispose of the pending securitisation application No.144 of 2026.
Summary
M/s. Om Sai Decoplast Pvt. Ltd. filed a writ petition in the Bombay High Court seeking relief against Pegasus Asset Reconstruction Pvt. Ltd. The petitioners later requested to withdraw the petition, preferring to pursue their remedy before the Debt Recovery Tribunal (DRT) in a pending securitisation application (No. 144 of 2026). They also asked the Court to direct the DRT to dispose of that application expeditiously. The Court allowed the withdrawal, dismissed the writ petition, and issued a direction to the DRT to dispose of the securitisation application promptly.
Issues considered
- Whether a writ petition can be withdrawn at the petitioner's request after filing.
- Whether the High Court can direct the Debt Recovery Tribunal to expedite a pending securitisation application.
Subjects
- writ petition
- withdrawal
- Debt Recovery Tribunal
- securitisation
- expeditious disposal
- Civil appellate jurisdiction
- Bombay High Court
Judgment
27_WP_10684_26.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
WRIT PETITION NO. 10684 OF 2026
M/s. Om Sai Decoplast Pvt. Ltd.,
Through Director Anil Krishnaji Naik, & another … Petitioners
vs.
Pegasus Asset Reconstruction Pvt. Ltd. … Respondent
Mr. Ismail Nasikwala for petitioners.
Mr. Rashid Khan a/w. Ms. Ankita Pandey, i/b. Mr. Rakesh Kumar Singh for
respondent.
CORAM : MANISH PITALE &
SHREERAM V. SHIRSAT, JJ
DATE : 24th AUGUST, 2026
P.C. :
. When the petition is called out for hearing, the learned counsel
for the petitioners, on instructions, seeks permission to withdraw the
petition, in the light of subsequent events and the petitioners seek
liberty to pursue their remedies before the Debts Recovery Tribunal
(DRT) in pending Securitisation Application No.144 of 2026. It is
submitted that this Court may also consider directing expeditious
disposal of the pending securitisation application.
2. In view of the above, the writ petition is disposed of as
withdrawn, with liberty as aforesaid.
3. DRT is directed to expeditiously dispose of pending
Securitisation Application No.144 of 2026.
(SHREERAM V. SHIRSAT, J.) (MANISH PITALE, J.)
Digitally signed
Priya Kambli
PRIYA
by PRIYA
KAMBLI
KAMBLI Date:
2026.08.24 1/1
17:44:18 +0530
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