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2022 Supreme(Bom) 917

K.R.SHRIRAM, A.S.DOCTOR
Sunil Gupta – Appellant
Versus
Asset Reconstruction Company (India) Ltd. – Respondent


Advocates:
Advocate Appeared:
Janak Dwarkadas, Chirag Kamdar, Peshwan Jehangir, Rajat Jariwal, Jyoti Sinha, Naren Nimbalkar, Harsh Salgia, Aayushi Khurana, Sushil Nimbkar.

JUDGMENT :

K.R. SHRIRAM, J.

WRIT PETITION NO. 4885 OF 2022

1. By consent, this petition was taken as a lead matter. Counsel agreed that the findings in this petition would also equally apply to Writ Petition No. 4880 2002. Counsel also stated that the order in Writ Petition (ST.) No. 11009 of 2021 and Writ Petition (ST.) No. 11010 of 2021 would depend on our conclusions in this petition. Counsel also stated that if the Court is inclined to allow this petition, Writ Petition No. 4880 2002 will also have to be allowed and consequently, Writ Petition (ST.) No. 11009 of 2021 and Writ Petition (ST.) No. 11010 of 2021 will have to be dismissed.

2. In this petition, petitioners are impugning a judgment dated 12th May 2021 passed by the Debt Recovery Appellate Tribunal (the DRAT) by which the DRAT dismissed the appeal that petitioners had filed. In the appeal, petitioners were impugning an order dated 27th April 2011 passed by the Debt Recovery Tribunal (the DRT).

3. The DRT, in O.A. No. 927 of 2001, had passed an ex-parte decree dated 11th December 2009 qua petitioners. When petitioners ap

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