2026:BHC-AS:6601-DB IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 3929 OF 2024 M/s. Sunshine Builders and Developers partnership firm registered under the Indian Partnership Act and having its principal office at 1307, Lotus Trade Centre, Next to Audi Showroom, New Link Road, Andheri (West), Mumbai – 400 053 through its partner Mr. Shailesh Mehta … Petitioner V/s.

1. HDFC Bank Limited, having its registered office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (W), Mumbai – 400 013

2. The Authorised Officer, attached to HDFC Bank Ltd., having its registered office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (W), Mumbai – 400 013

3. Official Liquidator, High Court, Bombay, (Gigaplex Developers Pvt. Ltd. in Liquidation), having office at 5^th Floor, Bank of India Bldg., M.G. Road, Mumbai – 400 023

4. Kaveri Estate Pvt. Ltd., a Pvt. Ltd. Company incorporated under the Indian Companies Act, 1956 and having its registered office at Raheja Chambers, Linking Road, Santacruz (W), Mumbai – 400 054 5. Havemore Realty Pvt. Ltd., having its registered office at 412, Floor-4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai – 400 001

6. Macrotech Developers Ltd.

Office at 412, Floor 4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai … Respondents Mr. Simil Purohit, Senior Advocate with Vikramjit Singh Garewal with Rutwij Bapat, Shashank Fadia i/b. Priyanka Fadia for the Petitioner Mr. Prateek Seksaria, Senior Advocate with Mr. Nishant Chothani, Rohit Agarwal, Ishwar Nankani, Huzefa Khokhawala with Karan Parmar and Kartik Gupta i/b. M/s.

Nankani & Associates for Respondent Nos. 1 and 2 Mr. Nitin Thakker, Senior Advocate with Nimay Dave, Saloni Sulakhe, Declan Fernandes, Krushika Udeshi i/b. M/s. Dhaval Vussonji & Associates for Respondent No.5 Mr. Venkatesh Dhond, Senior Advocate with Karishma, Umang Mehta, Aamir Attari i/b. M/s. Avyaan Legal for Respondent No.6 Ms. Bhavi Vora and Ms. Yashvi Dave, representatives of Lodha Developers Ltd., Respondent No.6 present _______________________________________

CORAM : R.I. CHAGLA AND FARHAN P. DUBASH, JJ.

RESERVED ON : 16^TH DECEMBER 2025 PRONOUNCED ON : 4TH FEBRUARY 2026 JUDGMENT (Per Farhan P. Dubash, J.) :

1. The present Writ Petition assails an order dated 29^th February 2024 (impugned order) passed by the Debts Recovery Appellate Tribunal, at Mumbai in an application preferred by the Petitioner under Section 18(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 directing the Petitioner to make the pre-deposit as a condition precedent for its appeal to be entertained. Before the DRAT, the Petitioner had challenged a common order dated 7^th October 2022 passed by the Debts Recovery Tribunal, at Mumbai in two applications which sought amendment of the pending Securitisation Application filed by it; the first of which, sought impleadment of the auction purchaser, whilst the other, sought to bring subsequent facts, including sale of the said property on the record, whilst also seeking condonation of delay in making such application. By the present Writ Petition, this Court is called upon to decide the Petitioners' challenge to the impugned order, which is primarily based on the ground that the said common order is merely a 'procedural' order which sought impleadment of a party, amendment and condonation of delay in doing so and not a 'final' order determining the liability of the borrower or any other person and hence, the provision of pre-deposit would not be attracted.

2. A brief narration of the facts, insofar as they are necessary for the adjudication of the disputes raised in the present Writ Petition, is set out hereunder :

A] The property which is subject matter of dispute in the present Writ Petition is a parcel of land bearing CTS Nos. 78 and 79 corresponding to Survey Nos. 91/2 and 4/3 admeasuring 18,156.40 square metres and 12,345.20 squar