The Supreme Court bench comprising Justices Dr. D.Y. Chandrachud and Ms. Hima Kohli was recently hearing petitions from the home buyers and held that amount of Rupees One crore shall be distributed pro rata to the fifteen applicants within three weeks.
The amicus curiae submitted the note where it was found that the amounts due to the fifteen applicants in the present batch of proceedings.
The Bench noted that an amount of Rupees One crore was lying in deposit with the Registry of this Court pursuant to the order dated 26 August 2022. The Supreme court bench directed that the amount of Rupees One crore shall be distributed pro rata to the above fifteen applicants within three weeks. In addition, the IRP shall deposit a further amount of Rupees One crore in the Registry of the Supreme Court on or before 8 December 2022. Upon deposit of that amount, it shall be distributed pro rata to the above fifteen applicants on the same basis, the SC Bench further directed.
The Supreme Court bench observed that the disbursal shall be made to the home buyers subject to their filing undertakings that if there was an outstanding loan due to any bank or financial institution, the amount which was received pro rata shall be utilized in repaying the loan.
The amount which has been directed to be paid in the above terms by the IRP shall be defrayed out of the account of the Corporate Debtor, the Bench noted.
"The Court has been apprised of the fact that an appeal has been filed before the Supreme Court in Union Bank of India v. Ram Kishor Arora, Civil Appeal No. 5941 of 2021, against the order of the NCLAT which is likely to be listed in the week commencing 7 November 2022. The Apex Court shall be apprised on the next date of listing of the outcome of the appeal or any orders which may be passed", the Bench further observed.
The Supreme Court bench directed to list the proceedings on 12 December 2022. Diary No. 31870 of 2022 be listed along with the present proceedings on the next date of listing.
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