Supreme Court - Daily Orders
Bikram Chatterji vs Union Of India on 29 October, 2020
Bench: Uday Umesh Lalit, Ashok Bhushan
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ITEM NO.301 COURT NO.4 SECTION X
(HEARING THROUGH VIDEO CONFERENCING)
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Writ Petition (Civil) No.940/2017
BIKRAM CHATTERJI & ORS. Petitioner(s)
VERSUS
UNION OF INDIA & ORS. Respondent(s)
WITH
(The matters pertaining to (i) Mr. Prem Mishra of Indore and
Surekha family, (II) the Directors/CFO Chander Wadhwa and others;
(iii) Royal Golf Link City Project Pvt. Ltd. and (iv) ACE Infracity
Developers Pvt. Ltd.; IA No.67992/2020 – FOR APPLICATION FOR
PERMISSION; IA No.74385/2020 - FOR APPROPRIATE ORDERS/DIRECTIONS;
IA No.50370/2020 - FOR APPROPRIATE ORDERS/DIRECTIONS; IA
No.94047/2020 - FOR APPROPRIATE ORDERS/DIRECTIONS; IA No.90985/2020
- FOR APPROPRIATE ORDERS/DIRECTIONS; IA No.1023/2020 - FOR
APPROPRIATE ORDERS/DIRECTIONS; IA No.95273/2018 - FOR
CLARIFICATION/DIRECTION; IA No.180011/2019 - FOR CLARIFICATION/
DIRECTION; IA No.89379/2020 - FOR CLARIFICATION/DIRECTION; IA
No.114496/2019 - FOR CLARIFICATION/DIRECTION; IA No.189314/2019 -
FOR COMPLIANCE OF COURTS ORDER; IA No.94049/2020 - FOR EXEMPTION
FROM FILING AFFIDAVIT; IA No.89380/2020 - FOR EXEMPTION FROM FILING
O.T.; IA No.15119/2020 - FOR EXTENSION OF TIME; IA No.8259/2019 -
FOR INTERVENTION APPLICATION; IA No.114490/2019 - FOR INTERVENTION
APPLICATION; IA No.3573/2020 - FOR INTERVENTION/IMPLEADMENT; IA
No.182673/2019 - FOR MODIFICATION; IA No.182079/2019 - FOR
MODIFICATION; IA No.182077/2019 - FOR MODIFICATION; IA
No.77651/2020 - FOR MODIFICATION OF COURT ORDER; IA No.60700/2020 -
FOR PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES; IA
No.127793/2019 - FOR RECALLING THE COURTS ORDER; and, IA
No.127787/2019 - FOR RECALLING THE COURTS ORDER)
SMC (Crl) No.4/2018 (XVII)
W.P.(C) No.378/2018 (X)
W.P.(C) No.245/2018 (X)
Signature Not Verified
W.P.(C) No.306/2018 (X)
Digitally signed by Dr.
Mukesh Nasa
Date: 2020.10.31
13:25:30 IST
Reason:
SLP(C) No.1879/2018 (XVII)
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Diary No.36392/2019 (X)
CONMT.PET.(C) No.483/2020 in W.P.(C) No. 940/2017 (X)
W.P.(C) No.298/2018 (X)
W.P.(C) No.288/2018 (X)
(IA No.84512/2020 – FOR APPROPRIATE ORDERS/DIRECTIONS)
W.P.(C) No.1397/2018 (X)
MA No.1107/2020 in W.P.(C) No.866/2018 (X)
W.P.(C) No.502/2019 (X)
W.P.(C) No.226/2018 (X)
W.P.(C) No.267/2018 (X)
(IA No.88108/2018 – FOR APPROPRIATE ORDERS/DIRECTIONS)
W.P.(C) No.199/2018 (X)
W.P.(C) No.246/2018 (X)
W.P.(C) No.353/2018 (X)
W.P.(C) No.829/2018 (X)
W.P.(C) No.742/2018 (X)
W.P.(C) No.460/2018 (X)
W.P.(C) No.1018/2017 (X)
W.P.(C) No.134/2018 (X)
W.P.(C) No.131/2018 (X)
W.P.(C) No.164/2018 (X)
W.P.(C) No.1206/2017 (X)
W.P.(C) No.281/2018 (X)
W.P.(C) No.1116/2017 (X)
W.P.(C) No.1156/2017 (X)
W.P.(C) No.1144/2017 (X)
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W.P.(C) No.1041/2017 (X)
W.P.(C) No.971/2017 (X)
W.P.(C) No.947/2017 (X)
W.P.(C) No.74/2018 (X)
W.P.(C) No.56/2018 (X)
W.P.(C) No.182/2018 (X)
W.P.(C) No.8/2018 (X)
W.P.(C) No.91/2018 (X)
W.P.(C) No.160/2018 (X)
(IA No.87533/2020 – FOR EXEMPTION FROM FILING AFFIDAVIT; and, IA
No.87532/2020 – FOR MODIFICATION OF COURT ORDER)
W.P.(C) No.21/2018 (X)
W.P.(C) No.58/2018 (X)
W.P.(C) No.942/2017 (PIL-W)
W.P.(C) No.1242/2017 (X)
W.P.(C) No.52/2018 (X)
W.P.(C) No.57/2018 (X)
Date : 29-10-2020 These matters were called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE UDAY UMESH LALIT
HON'BLE MR. JUSTICE ASHOK BHUSHAN
Counsel for the Parties:
Mr. R. Venkataramani,
Senior Advocate (Court Receiver)
Mr. Pavan Aggarwal, Forensic Auditor
Mr. Ravinder Bhatia,Forensic Auditor
Mr. M. L. Lahoty, Adv.
Mr. Paban K Sharma, Adv.
Mr. Anchit Sripat, Adv.
Mr. Himanshu Shekhar, AOR
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Mr. Ravindra Kumar, AOR
Mr. Siddhartha Dave, Sr. Advocate
Mr. Gudipati G. Kashyap, Adv.
Ms. Apoorva Pandey
Ms. T. Archana, AOR
Mr. Joy Basu, Sr Adv
Mr. Kanak Bose, Adv
Mr. Varun Sarin, Adv
Mr. Ashok Mathur, AOR
Mr. Gopal Sankarnarayanan, Sr. Adv.
Mr. Raj Kamal, AOR
Mr. DK Sharma, Adv.
Mr. Apoorv Chandra Saxena, Adv.
Mr. Maheen Pradhan, Adv.
Mr. Aseem Atwal, Adv.
Mr. Kartavya Batra, Adv.
Dr. Abhishek Manu Singhvi, Sr. Adv.
Mr. Kavin Gulati, Sr. Adv.
Mr. Amit Bhandari, Adv.
Ms. Anubha Agrawal, AOR
Mr. Vikramjit Banerjee, ASG
Ms. V. Mohana, Sr. Adv.
Mr. Mukul Singh, Adv.
Mr. Prashant Singh,Adv.
Ms. Anil Katiyar,AOR
Mr. Vikramjit Banerjee, ASG
Mr. Mukul Singh Adv
Mr. Vibhu Shanker Mishra Adv
Mr. B.V. Balaram Das, AOR
Mr. P.S. Narasimha, Sr. Adv.
Mr. Prashant Shukla, Adv.
Ms. Bansuri Swaraj, Adv.
Mr. Abhinav Ramkrishna, AOR
Mr. Rakesh K. Khanna, Sr. Adv.
Mr. Udita Singh, AOR
Mr. Niraj Gupta, AOR
Md. Fuzail Khan, Adv.
Mr. Anshu Gupta,Adv.
Mr. P.N. Misra, Sr. Adv.
Mr. Niraj Gupta, AOR
Md. Fuzail Khan, Adv.
Mr. Anshu Gupta,Adv.
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Mr. V. Shekhar, Sr. Adv.
Mr. Abhigya Kushwah, AOR
Mr. Pradeep Kumar Dubey, Adv.
Mr. Siddharth Rajkumar Murarka, Adv.
Mr. Shashank Shekhar, Adv.
Ms. Sunita Yadav, Adv.
Ms. Sheetal Rajput, Adv.
Ms. Anamika Kushwaha, Adv.
Ms. Nandita Rao, Adv.
Ms. Mahija Reddy,Adv.
Mr. K. N. Agnihotri, Adv.
Mr. Virender Arora, Adv.
Mr. Jasmeet Singh, AOR
Mr. Ketan Gaur, Adv.
Mr. Ayush Mitruka, Adv.
Mr. Ashish Bhan, Adv.
Mr. Saif Ali, Adv.
Mr. Pushpendra S. Bhadoriya, Adv.
Ms. Rusheet Saluja, Adv.
Mr. Ramesh Babu M. R., AOR
Ms. Manisha Singh, Adv.
Ms. Nisha Sharma, Adv.
Mr. Keshav Mohan, Adv
Mr. R.K Awasthi, Adv
Mr. Prashant Kumar, Advocate
Mr. Piyush Vatsa, Adv.
Ms. Ritu Arora, Adv.
Mr. Santosh Kumar – I, AOR
Mr. Mohit Chaudhary, Adv.
Ms. Puja Sharma, Adv.
Kings & Alliance LLP, AOR
Mr. Kunal Sachdeva, Adv.
Mr. Shyam Singh Yadav, Adv.
Mr. Imran Ali, Adv.
Mr. Balwinder Singh Suri , Adv.
Mr. Parveen Kumar, Adv.
Ms. Garima Sharma, Adv.
Mr. Manoj Singh, Adv.
Mr. Subas Ray, Adv.
Mr. Sanjay Kumar Visen, AOR
Mr. Mukul Singh, Adv.
Mr. Prashant Singh,Adv.
Mr. B.K. Prasad, Adv.
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Mr. Arpit Rai, Adv
Mr. Aviral Kashyap, AOR
Ms. Vimal Sinha,Adv.
Mr. Sanjeev Prakash Upadhyaya, Adv.
Mr. Saurabh Mishra, Adv.
Ms. Bishwajit Dubey, Adv.
Ms. Srideepa Bhattacharyya, Adv.
Ms. Sanskriti Sidana, Adv.
for Cyril Amarchand Mangaldas, AOR
Ms. Sukriti Chauhan,Adv.
Mr. Ayush Kumar,Adv.
Ms. Manju Jetley,AOR
Ms. Shuchi Singh, Adv.
Mr. Krishna Kant Dubey, Adv
Mr. Sanjay Kumar Dubey, AOR
Mr. Rakesh Kumar Tewari, Adv.
Ms. Astha Sharma, AOR
Mr. Sahil Sethi,Adv.
Mr. Shivam Shrama,Adv.
Ms. Mantika Haryani, Adv.
Mr. Pradhuman Gohil, Adv.
Ms. Taruna Singh Gohil, AoR
Ms. Ranu Purohit, Adv.
Ms. Riya Chopra, Adv.
Mr. Prakash Kumar Singh, AOR
Dr. Brij Bhushan K. Jauhari, Adv.
Ms. Purnima Jauhari, Adv,
Mr. Harsh Mahan , Adv.
Mr. O.P. Singh, Adv.
Mr. Ashok Kumar Singh, Adv.
Mr. Vikram Jain, Adv.
Ms. Pragya Singh, Adv.
Mr. Shantwanu Singh, AOR
Mr. Divyakant Lahoti, AOR
Mr. Parikshit Ahuja, Adv.
Ms. Praveena Bisht, Adv.
Ms. Vindhya Mehra, Adv.
Ms. Madhur Jhavar, Adv.
Mr. Kartik Lahoti, Adv.
Mr. Jaigopal Saboo, Adv.
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Mr. Kaushal Yadav, AOR
Mr. Nandlal Kumar Mishra, Adv.
Dr. Sanjay Gupta, Adv.
Mr. Pramod Kumar, Adv.
Dr. Ajay Kumar, Adv.
Ms. Yashoda Katiyar, Adv.
Ms. Kritiya Pandey, Adv.
Ms. Akansha Rai, Adv.
Ms. Apeksha Rai, Adv.
Ms. Shweta Yadav, Adv.
Mr. Pramod Kumar, Adv.
Mr. Rahul Malhotra, Adv.
Ms. Himanshi Madan, Adv.
Mr. Rajesh P., AOR
Mr. Shubham Bhalla, AOR
Mr. Yajur Bhalla, Adv.
Mr. Deepak Samota, Adv.
Mr. Vijay Kumar Diwedi, Adv.
Mr. Sandeep Jha, Adv.
Mr. Ram Ekbal Roy, Adv.
Ms. Priyanka Das, Adv.
Ms. Neha Das, Adv.
Mr. Binay Kumar Das, AOR
Mr. Devender Kumar Singh, Adv.
Mr. Karunakar Mahalik, AOR
Gouranga Biswal, Adv.
Mr. B.K. Pandey, Adv.
Mr. Ranjan Kumar Pandey, AOR
Mr. Sandeep Bisht, Advocate
Mr. Anuj Tiwari, Advocate
Mr. Shikhar Shrivastava, Advocate
Mr. Rabin Majumder, AOR
Ms. Akansha Srivastava, Adv.
Mr. Joydeep Mukherjee, Adv.
Mr. Nand Ram, Adv.
Mr. Dheeraj Nair, AOR
Mr. Kumar Kislay, Advocate
Ms. Vishrutyi Sahni, Advocate
Mr. A.C.Mishra, Adv.
Ms. Nipun Sharma, Adv.
for ACM Legal, AOR
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Mr. Raghvendra Singh, AG
Ms. Garima Prashad, AOR
Mr. Abhitosh Pratap Singh, Adv.
Mr. S.L. Gupta, Adv.
Mr. Asutosh Sharma, Adv.
Mr. Gunjan Sharma, Adv.
Mr. Varinder Kumar Sharma, AOR
Mr. Arvind Gupta, AOR
Mr. Pran Krishna Jana, Adv.
Mr. Binod Kumar Singh, Adv.
Mr. Shiv Kumar Pandey, Adv.
Mr. Chandrashekhar A. Chakalabbi, Adv.
Mr. Awanish Kumar, Adv.
Mr. Anshul Rai, Adv.
M/s. Dharmaprabhas Law Associates, AOR
Ms. Arti Singh, AOR
Mr. Aakashdeep Singh Road, Adv.
Ms. Pooja Singh, Adv.
Mr. Saket Singh, Adv.
Ms. Niranjana Singh, AOR
Mr. Alok Kumar Sharma, Adv.
Mr. Naresh Kumar, AOR
Ms. Prerna Mehta, AOR
Mr. Naresh Aditya Madhav, Adv.
Mr. Pradeep Misra, AOR
Mr. Suraj Singh, Adv.
Mr. Amit Kumar, Adv.
Mr. Avijit Mani Tripathi, AOR
Mr. Sanjay Kapur, AOR
Ms. Megha Karnwal, Adv.
Mr. Avneesh Arputham, AOR
Ms. Anuradha Arputham,Adv.
Mr. Sanjoy Kumar Ghosh, Advocate
Ms. Rupali Samanta Ghosh, AOR
Mr. Chandra Prakash, AOR
Mr. Rahil Sharan, Adv.
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Ms. Sakshi Banga, Advocate
Mr. Anas Tanwir, AoR
Mr. Harish Pandey, AOR
Mr. Alok Kumar Pandey, Adv.
Ms. Richa Kapoor, AOR
Mr. Shalya Agarwal, Adv.
Ms. Indrani Mukherjee, Adv
Ms. Tatini Basu, AOR
Mr. Deepali Dwivedi, Adv.
Mr. Fuzail Ahmad Ayyubi, AOR
Mr. Rohit Kumar Singh, AOR
Mr. Shubham V. Gawande, Adv.
Ms. Shobha Gupta, AOR
Ms. Prachi Apte, Adv.
Ms. E. R. Sumathy, AOR
Ms. Savita Aggarwal, Adv.
Mr. Rameshwar Prasad Goyal, AOR
Suman Tripathy, Adv.
Mr. Pramod Dayal, AOR
Mr. Nikunj Dayal, Adv.
Mr. Talha A Rahman, AOR
Mr. Pawan Bhushan, Adv.
Mr. Divyanshu Gupta, Adv.
Mr. Vishal Gupta, AOR
Mr. Janender Kumar Chumbak, Adv.
Ms. Amita Singh Kalkal, AOR
Mr. Anil Kumar Mishra-I, AOR
Mr. Aditya Jain, AOR
Mr. Anuj Bhandari, AOR
Mr. Gautam Das, AOR
Mr. Amit Pawan, AOR
Mr. Abhishek Agarwal AOR
Mr. Umesh Kr. Khaitan, AOR
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Mr. Ram Lal Roy, AOR
Mr. Tahir Ashraf Siddiqui, AOR
Ms. Kirti R. Mishra, AOR
Mr. B.K. Satija, AOR
Mr. Anand Varma, AOR
Mr. E.C. Vidyasagar, AOR
Mr. Gaurav Goel, AOR
Ms. Hima Lawrence, AOR
Mr. Satish Pandey AOR
Mr. Shovan Mishra, AOR
Mr. Braj Kishore Mishra, AOR
Mr. Shardul Shroff, AOR
Ms. Anisha Upadhyay, AOR
Mr. Aniruddha P. Mayee, AOR
Mr. Vivek Narayan Sharma, AOR
Mr. Balraj Dewan, AOR
Mr. Rohit Amit Sthalekar, AOR
Mr. Manish Kumar Saran,AOR
Mr. Abhimanue Shrestha, AOR
Mr. Anis Ahmed Khan AOR
Mr. Aman Gupta AOR
Ms. Mayuri Raghuvanshi, AOR
Mr. Ambhoj Kumar Sinha, AOR
Mr. Chandan Kumar, AOR
Mohd. Sadique T.A., AOR
Mr. Kailash Prashad Pandey, AOR
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Mr. Abdul Azeem Kalebudde, AOR
Mr. Shadan Farasat, AOR
Mr. Gopal Jha, AOR
Mr. A. P. Mohanty, AOR
Mr. G. Balaji, AOR
Ms. Jasmine Damkewala, AOR
Ms. Sangeeta Singh, AOR
Mr. Sayaree Basu Mallik, AOR
Mr. Prithvi Pal, AOR
Ms. Pallavi Pratap, AOR
Mr. Akhilesh Kumar Pandey, AOR
Ms. Rakhi Ray, AOR
Mr. Badri Prasad Singh, AOR
Mr. Dharmendra Kumar Sinha, AOR
Mr. Balaji Srinivasan, AOR
Mr. Rajesh Kumar Gupta, AOR
Mr. Mukesh Kumar Maroria, AOR
Mr. Himanshu Tyagi, AOR
Mr. Sukant Vikram, AOR
Ms. Swarupama Chaturvedi, AOR
Mr. Joby P. Varghese, AOR
Ms. Gargi Khanna, AOR
Mr. Roopansh Purohit, AOR
Mr. Christopher Dsouza, AOR
M/s. Devasa & Co., AOR
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Mr. E. C. Vidya Sagar, AOR
Ms. Lalita Kaushik, AOR
Mr. Shishir Pinaki, AOR
Mr. Sarvam Ritam Khare, AOR
Mr. Sudhansu Palo, AOR
Mr. Sunny Choudhary, AOR
Ms. Chandan Ramamurthi, AOR
M/s. D.S.K. Legal, AOR
Mr. S. K. Verma, AOR
Mr. Kumar Dushyant Singh, AOR
Ms. Dharitry Phookan, AOR
Mr. Arun K. Sinha, AOR
Mr. Ritesh Agrawal, AOR
Mr. Kedar Nath Tripathy, AOR
Mr. Abhijit Sengupta, AOR
Mr. Arup Banerjee, AOR
Ms. Usha Nandini V, AOR
Ms. Mridula Ray Bharadwaj, AOR
Mr. Annam D. N. Rao, AOR
Ms. Shalu Sharma, AOR
Mr. Somesh Chandra Jha, AOR
Ms. Suruchii Aggarwal, AOR
Mr. Ejaz Maqbool, AOR
Mr. Vishnu Sharma, AOR
Mr. Satyajeet Kumar, AOR
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Mr. Syed Mehdi Imam, AOR
Mr. Prakash Ranjan Nayak, AOR
Ms. Bharti Tyagi, AOR
Ms. Anindita Pujari, AOR
Mr. Sibo Sankar Mishra, AOR
Mr. Shakil Ahmed Syed, AOR
Mr. G. N. Reddy, AOR
Mr. Kaushik Choudhury, AOR
Mr. Abhinav Shrivastava, AOR
Mr. Aakarshan Aditya, AOR
Mr. Mushtaq Ahmad, AOR
Mr. Shree Pal Singh, AOR
Mr. Malak Manish Bhatt, AOR
Mr. Dhananjay Garg, AOR
Mr. Brijesh Kumar Tamber, AOR
Mr. Sanand Ramakrishnan, AOR
Mr. Pawanshree Agrawal, AOR
Mr. Nitish Massey, AOR
Mr. Somiran Sharma, AOR
Ms. Vandana Sehgal, AOR
Mr. Sureshan P., AOR
Ms. Misha Rohatgi, AOR
Mr. Rakesh Kumar-I, AOR
Mr. Ajit Sharma, AOR
Ms. Anisha Upadhyay, AOR
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Ms. Anannya Ghosh, AOR
Ms. Veera Kaul Singh, AOR
Mr. Mohit D. Ram, AOR
M/s. V. Maheshwari & Co., AOR
Mr. Prem Prakash, AOR
Mr. K. Paari Vendhan, AOR
Mr. Tejaswi Kumar Pradhan, AOR
Mr. T. Mahipal, AOR
Atishi Dipankar, AOR
Ms. Praveena Gautam, AOR
Mr. Ashwarya Sinha, AOR
Mr. Umesh Kumar Khaitan, AOR
Mr. Vipin Kumar Jai, AOR
Mr. Raj Singh Rana, AOR
Ms. Indra Sawhney, AOR
Dr. Nafis A. Siddiqui, AOR
Ms. Mona K. Rajvanshi, AOR
Ms. Pallavi Pratap, AOR
Mr. Sudhir Naagar, AOR
Mr. Purvish Jitendra Malkan, AOR
Mr. Vinay Arora, AOR
Mr. Anoop Prakash Awasthi, AOR
Mr. D. S. Chauhan, AOR
Ms. Sujata Kurdukar, AOR
Mr. Rajesh Mahale, AOR
Mr. Sumit Sinha, AOR
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Mr. Somanatha Padhan, AOR
Mr. Somanatha Padhan, AOR
Mr. Ravindra Sadanand Chingale, AOR
Mr. M. M. Kashyap, AOR
Mr. Naveen Kumar, AOR
Mr. Ashwani Bhardwaj, AOR
Ms. Charu Ambwani, AOR
Ms. Charu Mathur, AOR
Mr. Kumar Mihir, AOR
Mr. Rishi Matoliya, AOR
Mr. Aneesh Mittal, AOR
Mr. Kabir Dixit, AOR
Mr. Sanchit Garga, AOR
Mr. O. P. Gaggar, AOR
Ms. Rashmi Singh, AOR
Mr. Gaichangpou Gangmei, AOR
Mr. Neeraj Shekhar, AOR
Ms. Kamakshi S. Mehlwal, AOR
Mr. Sanjai Kumar Pathak, AOR
Mr. Rajat Mittal, AOR
Mr. Gaurav, AOR
Mr. Smarhar Singh, AOR
Mr. Nikilesh Ramachandran, AOR
Mr. Raj Bahadur Yadav, AOR
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Mr. B. Krishna Prasad, AOR
Ms. Rajkumari Banju, AOR
Mr. M. T. George, AOR
Mr. Siddhartha Jha, AOR
Mr. Praveen Jain, AOR
Mr. Anil K. Chopra, AOR
Mr. S. R. Setia, AOR
Ms. Kirti Renu Mishra, AOR
Mr. Rajiv Raheja, AOR
UPON hearing the counsel the Court made the following
O R D E R
PART - I I.A. No.109438 OF 2020 IN W.P. (Civil) No.940 of 2017 This Interlocutory Application has been moved on behalf of Mr. Krishan Kumar Sharma and others.
Mr. Anuj Bhandari, learned Advocate for the applicants submits that they had booked plots in the Hi-Tech City, Jaipur and those plots were subject matter of e-Auction Sale Notice dated 02.04.2019 issued by the Registrar, Debt Recovery Tribunal-III, Delhi. He, therefore, prays that said e-Auction Sale Notice dated 02.04.2019 be set-aside.
It may be mentioned that going by the records submitted by Amrapali Group of Companies about certain unsold properties or inventories, the matter concerning Sangam Colonizers Private Limited was gone into by the Forensic Auditors in Volume-II of their Report and at page 307, it was observed that said Company had 17 not provided complete database reflecting number of plots, names of buyers, amounts received and amounts outstanding. Based on the Report of the Forensic Auditors, this Court in its order dated 23.07.2019 (at page 163-164) had dealt with the inventories pertaining to Sangam Colonizers Private Limited.
We issue Notice on this Interlocutory Application, returnable on 16.11.2020.
The Learned Receiver may seek instructions from the Forensic Auditors and present his views before the next date of hearing.
Pending further consideration, the Plots Nos.162, 168 and 258 of Hi-Tech City, Jaipur shall not be auctioned.
PART – II LA-RESIDENTIA PROJECT Mr. Gopal Sankaranaryanan, learned Senior Advocate submits that La-Residentia Project stands on footing similar to Heart Beat- 1 and Heart Beart-2 Projects; that La-Residentia Project must be considered to be one of the Amrapali Projects; and that the assets of La-Residentia be considered to be the assets of Amrapali Group of Companies and dealt with accordingly.
He submits that the matter was considered by this Court in its order dated 14.10.2019 whereafter I.A. No.109882 of 2020 has been filed highlighting the factual situation. He also relies upon the reply filed by the concerned Company.
18
Mr. M.L. Lahoti, learned Advocate, in turn submits that I.A. No.168186 of 2018 claiming similar relief is also pending consideration of this Court.
At this stage, Mr. Rakesh Kumar Khanna, learned Senior Advocate submits that I.A. No.153341 of 2019 pertains to same issue and, as such, said application be considered with above applications.
The issue whether the project La-Residentia is an Amrapali Project or not will therefore be gone into on 16.11.2020.
I.A. No.109882 of 2020, I.A. No.168186 of 2018 and I.A. No.153341 of 2019 shall be taken up for consideration on that day. The reply filed by the concerned Company shall also be gone into.
PART – III NOTE SUBMITTED BY THE COURT RECEIVER Mr. R. Venkataramani, learned Receiver in his Note has dealt with following issues.
A. FOLLOW UP ACTION REGARDING BANK FUNDING It is stated that in a meeting organized by the Reserve Bank of India with Member Banks of the Indian Banks Association that took place on 28th October 2020, a detailed Project Profile was presented. It is further stated that the Meeting concluded on the Note that before the next date of hearing, a tentative set of proposals would be made available to the Receiver and that the Banks would take appropriate decisions. The Note states that after exchange of necessary information and data, the progress towards 19 Bank funding will be shared with the Court before the next date of hearing.
B. ENGAGEMENT OF NBCC IN SALE OF UNSOLD INVENTORIES AND FARs The list of unsold inventories has been placed on record through Annexures A & A-1. The Note prepared by the NBCC for engagement of its services for effecting sale of unsold inventories and FARs is also enclosed. The Timelines indicated in Annexure-B contemplate that sale of inventories will be completed by January 2023.
The learned Receiver agrees that these Timelines need modulation and a finalized version will be placed for consideration of the Court before 16.11.2020. Insofar as the unsold inventories mentioned in Annexures-A & A1 are concerned, they co-relate with the findings and conclusions arrived at in the Reports of the Forensic Auditors.
We, therefore, grant requisite permission to the NBCC to effectuate sale of unsold inventories and FARs mentioned in Annexure-A & A1 under the supervision of the learned Receiver.
However, as ordered above in I.A. No.109438 OF 2020 IN W.P. (Civil) No.940 of 2017, Plots Nos.162, 168 and 258 of Hi-Tech City, Jaipur shall not be auctioned.
C. FORMATION OF A COMPANY UNDER SECTION 8 OF THE COMPANIES ACT It is stated that the Receiver and the Committee will soon be approaching the Registrar of Companies for registration of the Company and the developments in that behalf may be placed for perusal of the Court before the next date of hearing. 20
D. CONCERNING ACTION PLAN FOR SALE OF ASSETS BY MSTC The Receiver prays that permission be granted to place the Revised Schedule of e-Auction and Valuation before the next date of hearing.
The Note also states that the MSTC has advertised four properties for auction which is scheduled to be held on 31 st October 2020 and that the outcome of the e-Auction proceedings will also be placed for consideration of this Court on the next date of hearing.
The permission as sought for is granted.
This issue will be considered on 16.11.2020.
E. OUTSTANDING ISSUES REGARDING HOME LOANS As observed in the order dated 13.10.2020, standard Memorandum of Understanding has been exchanged with the concerned Banks and Financial Institutions. The Note suggests that the entire exercise will be completed in November 2020.
Let the development in the matter be placed on record soon after the exercise is over.
F. SUBVENTION LOAN ISSUE The learned Receiver in his Note has set-out paragraphs 2, 3 and 10 of the Memorandum of Understanding entered into with Amrapali Group of Companies to extend the facility of Subvention Loan.
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It is suggested that on account of defaults committed by Amrapali Group of Companies, the home-buyers should not be put to prejudice and, therefore, appropriate directions be issued for restructure of the entire arrangement. It is further suggested that all pending proceedings initiated by the Banks in any Forum against the home-buyers should not be allowed to be pursued further.
The relevant portion of the Note is as under:
2) Amrapali launched their subvention scheme with a view to persuade banks to sanction loans upfront, namely to the extent of 70-90% of sale value of units. In case of subvention agreements,the value of units were considerably higher in comparison with units of the same area or category. Large number of home buyers entered into Memorandum of Understanding with Amrapali for the purpose of grant of said loans. Home buyers entered into such agreements lured by the assurances in the MOU,as set out in paras 2,4 & 10 of the MOU.
“2. That in consideration of price agreed to be paid by the buyer, the company has agreed to allot the above said flat at total price of Rs 3,500/- per Sq Ft in the said project under “No Pre EMI till 36 months or till the date of intimation of possession whichever is earlier” scheme. The said price is exclusive of all applicable taxes. It is hereby agreed by the buyer that they will execute the booking form, flat buyer agreement and other documents as may be necessary to effectuate the said booking.
4. That the tenure of this subvention scheme, as approved by concerned bank/financial institution is 36 months. The developer expects to offer possession of the booked unit to the buyer by that time. However if due to any reason, the possession offer of the booked units gets delayed, then the developer undertakes to pay the EMI only to the buyer even after 36 months. The payment of EMI shall continue till offer of possession with regard to the booked flat is issued to the buyer.
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10. That the Company hereby agrees to pay Pre-EMI installment/interest directly to the bank through customer loan savings account against mortgaged flat of customer from the date when this Pre EMI installment first becomes due till the date of ending of this scheme. The Company further agrees that if it fails to pay any of the due Pre EMI installments on time, it shall pay the interest/penalty levied upon it along with due Pre EMI installments. After ending of this scheme, it shall be the liability of the customer to make the timely payments of its installments (principal amount + interest) directly to the bank/financial institution and if it defaults in making payment of installment, the company shall have the right to forfeit its earnest money along with interest from the disbursed amount and refund the remaining amount directly to the bank/financial institution may thereafter take recourse against the buyer for recover of remaining amount.”
3) Banks be directed to complete all loan disbursal cases before 30th November 2020 to facilitate further planning by the receiver.
4) However contrary to the above said condition Amrapali defaulted heavily in the discharge of this obligation after March-May 2017.Neither construction commenced in these projects and Amrapali did not make any arrangements regarding payment of EMI obligation.
5) In all such cases of subvention agreements, proceedings were initiated by banks against home buyers before DRT. Since the nonpayment of EMI obligation by Amrapali was considered and treated by banks as home buyer’s defaults (wrongly), the CIBIL score of home buyer also got eroded. As a result their ability to secure loan further has been adversely affected.
6) It is submitted that the upfront disbursal by banks under subvention schemes were in contravention of several advisories and circulars issued by RBI.
7) In the meanwhile large number of home buyers started paying the EMIs, which Amrapali should have paid. These are home buyers whose units till recently were yet to be brought into the construction schedule.
8) In the above circumstances, since home buyers were under no obligation to pay any EMI till the completion of the project in question and the liability of the home buyer commences only after the completion of the projects, demands made by banks to home buyers to 23 discharge the Amrapali obligations was not proper. During the last 3 years or more, ever since Amrapali defaulted under subvention scheme amounts paid by the home buyer were not actually due from them.
9) It is suggested that the amounts paid by home buyer during the default period be adjusted by banks suitably towards the principal amount sanctioned by the banks and the interest penalty levied or calculated by banks during the Amrapali period, shall not be treated as the liability of buyers.
10) All proceedings pending against home buyers, initiated by banks before any forum, shall not be pursued and the CIBIL score of home buyers shall not be affected by reason of any of the proceedings initiated by banks against home buyers.” Before we take any decision in the matter, we issue Notices to
(i) Bank of Maharashtra, (ii) Union Bank (erstwhile Corporation Bank and Andhra Bank, which have since then merged in the Union Bank), and (iii) Canara Bank, which had extended the concerned facility and entered into Subvention Agreements.
The concerned Banks may file their objections and/or submissions before 16.11.2020 so that the Subvention Loan issue can be taken up for consideration.
G. HEART BEAT-1 AND HEART BEAT-2 PROJECTS The learned Receiver has suggested that the Receiver and the Committee be permitted to go ahead with the Tender Proposals of NBCC for Heart Beart-1 and Heart Beat-2 Projects and that there is no need to pursue the matter any further with Engineering Projects (India) Ltd. The learned Receiver has also submitted:-
“4. As regards some issues in regard to the extent of area for club house or the link Road required for Hear Beat Projects, NBCC may proceed to take final technical views and necessary sanctions may also be issued by Greater Noida Authority.” 24 We accept the suggestion. Let the technical views and necessary sanctions be obtained and the progress in that behalf be placed on record for our consideration.
PART – IV NOTE SUBMITTED BY MR. M.L. LAHOTY, ADVOCATE
1. RECOVERY OF MONEY FROM ROYALGOLF LINK CITY PROJECTS PVT. LTD.
I.A. No.99854 OF 2020 By order dated 10.06.2020, this Court had recorded that a sum of Rs.48.52 Crores was received from the Royalgolf Link City Projects Pvt. Ltd. (hereinafter referred to as “the Company”) and that the Company was required to pay interest @ 12% per annum.
This Interlocutory Application has been filed on behalf of the Company and statement at page no.109 indicates that the interest liability according to the Company is to the tune of 21.52 Crores.
Mr. Saurabh Mishra, learned counsel appearing for the Company invited our attention to the “Expression of Interest” on the part of the RDB Reality & Infrastructure Limited in its communication dated 20.07.2020 which has expressed the willingness to buy 23 Villas out of 30 Villas at the rate of Rs.1,08,69,566/- per Villa.
It is, therefore, prayed that the injunction in respect of 23 Villas out of 30 Villas be lifted and the Company be allowed to enter into transaction with RDB Reality & Infrastructure Limited in respect of 23 Villas, the proceeds of which “shall be exclusively utilized to pay the interest of Rs.21.52 crores with the Registry of this Hon’ble Court”.
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The prayer made by the Company is accepted, subject to following conditions:
“a. The entire transaction be completed on or before 31.03.2021;
b. The entire proceedings shall be deposited in the Registry of this Court till the amount towards “Interest” liability is discharged; and c. 23 Villas will be permitted to be transferred only after the entire amount of interest is received in the Registry of this Court.
According to Mr. M.L. Lahoty, learned Advocate, the interest element ought to be Rs.32.29 Crores and not Rs.21.52 Crores, as suggested by the Company.
Mr. Lahoty is at liberty to place on record relevant documents and material to support his submission.
The matter in that behalf shall be considered on 16.11.2020.
PART – V Mr. Lahoty was on his legs when the Court rose for the day. For further hearing, list these matters on 02.11.2020 at 2.00 p.m. (MUKESH NASA) (VIRENDER SINGH) COURT MASTER BRANCH OFFICER