ANNEX PHARMACEUTICAL AND CHEMICALS PVT. LTD. vs THE BOARD OF DIRECTORS OF ASSETS CARE AND RECONSTRUCTION ENTERPRISE LTD — WP/2538/2026

Case under Securitisation & Reconstruction of Finiancial Assets Act Section 226. Next hearing: 22nd June 2026.

Next hearing 22-Jun-2026

CNR: HCBM020136632026

Filing Number

WP/13662/2026

Filing Date

17-Apr-2026

Registration No

WP/2538/2026

Registration Date

18-May-2026

Judge

Hon'ble Shri Justice Manish Pitale , Hon'ble Shri Justice Shreeram Vinayak Shirsat

Coram

Hon'ble Shri Justice Manish Pitale , Hon'ble Shri Justice Shreeram Vinayak Shirsat

Bench Type

Division

Category

MERCANTILE LAWS COMMERCIAL TRANSACTIONS , BANKS ( 28 )

Sub-Category

MATTERS RELATING TO SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS ( 10 )

Judicial Branch

Original

Last updated 21-Jun-2026

Acts & Sections

Securitisation & Reconstruction of Finiancial Assets Act Section 226
Micro, Small & Medium Enterprise Dev. Act

Petitioner(s)

  1. 1.ANNEX PHARMACEUTICAL AND CHEMICALS PVT. LTD.

    Adv. Adv Hemali Merva

  2. 2.SADRUDDIN S KHAN DIRECTOR M/S ANNEX PHARMACEUTICALS AND CHEMICALS PVT LTD

Respondent(s)

  1. 1.THE BOARD OF DIRECTORS OF ASSETS CARE AND RECONSTRUCTION ENTERPRISE LTD

    Adv. ,LITTLE AND COMPANY,LITTLE AND COMPANY 1123

  2. 2.M/S ASSETS CARE AND RECONSTRUCITON ENTERPRISES LTD(ACRE)

    Adv. GOVERNMENT PLEADER ORIGINAL SIDE

  3. 3.THE AUTHORISED OFFICER M/S ASSETS CARE AND RECONSTRUCTION ENTERPRISE LTD(ACRE)

  4. 4.SAMMAAN FINSERVE LIMITED

  5. 5.MINISTRY OF MICRO SMALL AND MEDIUM ENTERISES

  6. 6.UNION OF INDIA DEPARTMENT OF FINANCIAL SERVICES

  7. 7.GENERAL MANAGER DISTRICT INDUSTRIES CENTRE

  8. 8.CHAIRMAN, MICRO AND SMALL ENTERPRISE FACILITATION COUNCIL(MSEFC)

  9. 9.CHARIMAN STATE LEVEL INTERINSTITUTIONAL COMMITTEE

    Adv. LITTLE AND COMPANY

  10. 10.OFFICE OF THE SECRETARY INDUSTRIES

  11. 11.RESERVE BANK OF INDIA

    Adv. LITTLE AND COMPANY

  12. 12.STATE OF MAHARASHTRA

    Adv. GOVERNMENT PLEADER ORIGINAL SIDE

  13. 13.SUB INSPECTOR OF POLICE

  14. 14.STATE BANK OF INDIA

  15. 15.THE ATTORNEY GENERAL OF INDIA

Case History

  1. 22-Jun-2026

    Next hearingPending

  2. 22-Jun-2026

    High On Board -

    Hon'ble Shri Justice Manish Pitale , Hon'ble Shri Justice Shreeram Vinayak Shirsat

  3. 22-Jun-2026

    High On Board (Hob)

    Hon'ble Shri Justice Manish Pitale , Hon'ble Shri Justice Shreeram Vinayak Shirsat

  4. 05-May-2026

    Hon'ble Shri Justice Manish Pitale,hon'ble Shri Justice Shreeram Vinayak ShirsatView PDF

    Case Summary: WP/13662/2026 Outcome: Case adjourned. Notice issued to respondents returnable on 22nd June 2026. Petitioners granted permission to serve other respondents by private service. Details: Annex Pharmaceutical challenged a Central Government notification including NBFCs under the Securitisation and Reconstruction of Financial Assets Act, 2002, arguing it violates constitutional provisions on legislative competence—contending money lending is a State subject (Schedule VII, List II, Entry 30), not a Union subject like banking. The court admitted the petition raising fundamental constitutional questions and directed proper service on all respondents. This case analysis is maintained by casestatus.in based on publicly available court records.

  5. 05-May-2026

    First hearing

    Initial hearing scheduled

  6. 17-Apr-2026

    Case filed

    Registration No. WP/2538/2026

casestatus.in Summary

Case Summary: WP/13662/2026 Outcome: Case adjourned. Notice issued to respondents returnable on 22nd June 2026. Petitioners granted permission to serve other respondents by private service. Details: Annex Pharmaceutical challenged a Central Government notification including NBFCs under the Securitisation and Reconstruction of Financial Assets Act, 2002, arguing it violates constitutional provisions on legislative competence—contending money lending is a State subject (Schedule VII, List II, Entry 30), not a Union subject like banking. The court admitted the petition raising fundamental constitutional questions and directed proper service on all respondents. This case analysis is maintained by casestatus.in based on publicly available court records.

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