Rashmi Realty Builders Private Limited vs Union Bank Of India Limited

IN THE MATTER OF: Rashmi Realty Builders Pvt. Ltd. ...Appellant

Versus

Union Bank of India ...Respondent

Present: For Appellant : Mr. Abhijeet Sinha, Sr. Advocate with Mr. Anirban Bhattacharya, Mr. Rajeev Chowdhary, Ms. Nitu Mittal, Advocates. For Respondent : Mr. Ayman Khan, Advocate.

ORDER

(Hybrid Mode)

03.02.2026: This appeal has been filed against order dated 13.01.2026

passed by the Adjudicating Authority by which the right to reply of the

Appellant has been closed. Appellant, against whom Section 7 application

has been filed was granted time twice to file reply but reply could not be filed

and an application and Additional Affidavit was filed objecting to the

maintainability of the application. The Adjudicating Authority closed the right

to file reply by the impugned order.

2. Learned counsel for the Appellant submits that the Corporate Debtor is

carrying a real estate project and right of reply ought not to have been closed

and at best certain terms could have been fixed for granting further time.

3. It is submitted that the matter is now listed on 06.02.2026 and

Appellant may be given opportunity to file reply even before the said date

subject to cost.

Cont'd.../

4. We are of the view that the Adjudicating Authority did not commit any

error in not granting any further time to the Appellant. However, in view of

the fact that the matter is fixed for 06.02.2026 for arguments, we permit the

Appellant to file reply after serving a copy on the Applicant i.e. Respondent

herein within 24 hours from today subject to payment of Rs.10,000/- (Rupees

Ten Thousand Only) to the Applicant. The Appeal is disposed of accordingly.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical) Archana/md

Company Appeal (AT) (Ins.) No. 236 of 2026 2 of 2