A division bench of Justice Ranjit More and Justice S P Tavade was hearing a PIL filed by advocate Sarosh Damania, seeking the public auction of all HDIL assets either mortgaged with the crisis-hit PMC Bank or attached by the Economic Offences Wing, Mumbai.

The Insolvency Resolution Professional (IRP) of debt-ridden Housing Development Infrastructure Ltd (HDIL) moved the Bombay High Court on Monday to be made a party in the public interest litigation (PIL) seeking the speedy disposal and auction of HDIL assets.

The move comes after the Supreme Court had last week stayed the sale of HDIL assets in a case concerning PMC Bank, while agreeing to hear the plea by Reserve Bank of India.

A division bench of Justice Ranjit More and Justice S P Tavade was hearing a PIL filed by advocate Sarosh Damania, seeking the public auction of all HDIL assets either mortgaged with the crisis-hit PMC Bank or attached by the Economic Offences Wing, Mumbai.

The counsel for IRP on Monday said since HDIL assets are under moratorium, the court-appointed committee may not go ahead with selling them without representation and involvement of the Committee of Creditors.

The High Court had last month appointed a three-member committee headed by retired HC judge Justice S Radhakrishnan for disposal and distribution of proceeds on priority to PMC Bank depositors.

To ensure cooperation with the committee, the court had directed Rakesh and Sarang Wadhawan, promoters of HDIL, to be moved from Arthur Road jail to their Bandra residence. However, the SC had stayed the order of moving the Wadhawans last month.

Justice More asked the Wadhawans to file a reply and posted the hearing after two weeks.