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1. Mr. Sunil Fernandes, learned senior counsel and amicus curiae, has filed his first report dated 11th September, 2024.

2. We have perused the report and also heard the learned amicus curiae.

3. Learned counsel appearing for the Income Tax Authority, the GFIL committee, the applicants seeking intervention, respondent-Nikhil Syal and other interested parties have also been heard.

4. Learned amicus curiae in paragraph 6 of his report has highlighted two broad issues that would be arising for decision before this Court. He has suggested that the sale/auction could either be held on a PAN India single auction basis or if such single auction is not found to be feasible, separate auction of all the individual properties of the GFIL may be explored.

5. Without referring to the report in any great detail in this order, for the purpose of facilitating further action to be taken on the basis of such report, we make the following directions:-

(i) The GFIL Committee shall disclose particulars till 31 st December, 2024, as required in terms of paragraph 11.5 of the report of the amicus curiae, within four weeks from date.
(ii) The Income Tax authority/department shall complete valuation of all the identified GFIL properties at the earliest, if not already completed, and shall submit an updated status report by the next date of hearing on (a) the total number of GFIL properties in respect whereof valuation has been conducted or are to be conducted (b) identification/location of such properties and (c) the valuation/price.
(iii) Copies of the report of the GFIL Committee as well as the Income Tax authority/department, referred to in (i) and (ii) supra, shall be provided to respondent-Nikhil Syal as well as the learned amicus curiae.
(iv) Upon looking into the reports of the GFIL Committee as well as the Income Tax authority/department, the learned amicus curiae shall file a further report on the feasibility of a PAN India single sale auction for all the GFIL properties.
(v) The learned amicus curiae has suggested in paragraph 10 about identification of an agency to conduct the auction(s).
(viii) The reports may be filed in terms of this order well before the next date of hearing.
(ix) After the report of the Income Tax department is received, a meeting will be convened by the learned amicus curiae within a period of three weeks from that date, respondent-Nikhil Syal as well as the representative of the GFIL committee shall attend for the purpose of identifying any left out properties from the list already available.
(x) Presently, we are not inclined to allow the applications for intervention;