- 1 - HC-KAR NC: 2026:KHC:32614 WP No. 19416 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 1ST DAY OF JULY, 2026 BEFORE THE HON'BLE MS. JUSTICE JYOTI M WRIT PETITION NO. 19416 OF 2026 (GM-DRT) BETWEEN: PEGASUS ASSETS RECONSTRUCTIONS PRIVATE LIMITED, A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT 507, DALAMAL HOUSE, NARIMAN POINT, MUMBAI - 400 021 AND ITS BRANCH OFFICE AT NO. B-515, 5TH FLOOR, MITTAL TOWER, M.G.ROAD, BENGALURU - 560001, ACTING IN ITS CAPACITY AS TRUSTEE OF PEGASUS GROUP THIRTY NINE TRUST 1, REPRESENTED THROUGH ITS DEPUTY VICE PRESIDENT AND AUTHORIZED OFFICER MR. BHASKAR SARAT TURAGA …PETITIONER (BY SRI. NARAYANA SHENOY, ADVOCATE) AND: 1. MR. LALIT JAIN S/O. MR. TEJARAJ BHANTIA, AGED ABOUT 47 YEARS, RESIDING AT NO.50, YAMUNA BAI ROAD, MADHAV NAGAR, BENGALURU - 560001. Digitally signed by PREMCHANDRA M R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:32614 WP No. 19416 of 2026 2. MRS. SHARVANI SACHIDANAND @ SHARVANI S. ANAND, D/O. MR. B. SACHIDANANDA, AGED ABOUT 47 YEARS, RESIDING AT NO.327/1, FIRST FLOOR, 15TH CROSS, 2ND BLOCK, JAYANAGAR, BENGALURU-560011. 3. THE DEBTS RECOVERY TRIBUNAL-1, BSNL BUILDING, TELEPHONE HOUSE, 4TH FLOOR, RAJ BHAVAN ROAD, BENGALURU, KARNATAKA -560001, REPRESENTED BY ITS REGISTRAR. (DELETED VIDE COURT ORDER DATED 01.07.2026) …RESPONDENTS (BY SRI. KIRAN C.R., ADVOCATE FOR SRI. GANAPATI KUPPUSWAMY, ADVOCATE FOR C/R1 AND R2; VIDE COURT ORDER DATED 01.07.2026, R3 IS DELETED) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, SEEKING CERTAIN RELIEFS. THIS WRIT PETITION IS LISTED FOR ORDERS, THIS DAY, AN ORDER IS MADE AS UNDER: ORAL ORDER Sri.Narayana Shenoy., counsel for the petitioner and Sri.Kiran.C.R., counsel on behalf of Sri.Ganapati Kuppusamy., for caveator/ respondents 1 and 2 have appeared in person. - 3 - HC-KAR NC: 2026:KHC:32614 WP No. 19416 of 2026 2. The petition is filed seeking certain reliefs. Counsel for the petitioner submits that the petitioner had filed petition under Section 14 of the SARFAESI Act in Crl.Misc.No.1499/2025 and the Court vide order dated 06.11.2025 had allowed the petition. As against the said order, the respondents had filed an appeal before the DRT. The DRT vide order dated 10.03.2026 had allowed the appeal. Counsel for the petitioner submits that as against the order of the DRT, a review application is filed before the DRT and the Tribunal vide order dated:12.06.2026 granted time for filing objections and listed the matter on 15.09.2026. Counsel submits that a review application is filed and the respondents are already entered appearance. Hence, a direction may be issued to the DRT to dispose of the review application as expeditiously as possible. Counsel for respondents submits that they have no objection for the speedy disposal of the review application. 3. Taking note of the submission made by the respective parties, the Tribunal is directed to dispose of the review application within an outer limit of one month from the - 4 - HC-KAR NC: 2026:KHC:32614 WP No. 19416 of 2026 receipt of certified copy of this order. Accordingly, the petition is disposed of. As there is a direction issued to the DRT without taking into consideration of the date as 15.09.2026, hence, the DRT is to dispose of the review application as ordered by this Court. SD/- (JYOTI M) JUDGE MRP List No.: 1 Sl No.: 13