ITEM NO.301 COURT NO.2 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 MATTERS RELATING TO FUNDING BY BANKS; SALE OF RESORT LAND, UIT, UDAIPUR; AND MATTER CONCERNING MR. PREM MISHRA AND RELATED PERSONS; IA No. 74385/2020 - APPROPRIATE ORDERS/DIRECTIONS; IA No.12572/2022 – FOR APPROPRIATE ORDERS/DIRECTIONS; IA No.90985/2020 – FOR APPROPRIATE ORDERS/DIRECTIONS; IA No.33118/2022 – FOR CLARIFICATION/DIRECTION; IA No.138752/2021 – FOR EXEMPTION FROM FILING AFFIDAVIT; IA No.90986/2020 – FOR EXEMPTION FROM FILING AFFIDAVIT; IA No.74386/2020 – FOR EXEMPTION FROM FILING AFFIDAVIT; IA No.8259/2019 – FOR INTERVENTION; IA No.138750/2021 – FOR INTERVENTION; and, IA No.31467/2022 – FOR INTERVENTION/IMPLEADMENT)

WITH

W.P.(C) No.245/2018 (X)

W.P.(C) No.306/2018 (X)

W.P.(C) No.502/2019 (X)

Diary No.36392/2019 (X)

SLP (C) No.1879/2018 (XVII)

SMC (Crl) No.4/2018 (XVII)

W.P.(C) No.378/2018 (X)

W.P.(C) No.298/2018 (X)

CONMT.PET.(C) No.483/2020 in W.P.(C) No.940/2017 (X)

W.P.(C) No.288/2018 (X)

W.P.(C) No.1397/2018 (X) Digitally signed by Dr. Mukesh Nasa

Date: 2022.03.29 16:22:30 IST Reason:

Signature Not Verified

• W.P.(C) No.246/2018 (X)
• W.P.(C) No.226/2018 (X)
• W.P.(C) No.267/2018 (X)
• W.P.(C) No.1018/2017 (X)
• W.P.(C) No.353/2018 (X)
• W.P.(C) No.460/2018 (X)
• W.P.(C) No.829/2018 (X)
• W.P.(C) No.742/2018 (X)
• W.P.(C) No.199/2018 (X)
• W.P.(C) No.134/2018 (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)
• 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.56/2018 (X)
• W.P.(C) No.57/2018 (X)
• W.P.(C) No.74/2018 (X)
• W.P.(C) No.131/2018 (X)
• W.P.(C) No.182/2018 (X)

W.P.(C) No.942/2017 (PIL-W)

W.P.(C) No.8/2018 (X)

• W.P.(C) No.1242/2017 (X)
• W.P.(C) No.58/2018 (X)
• W.P.(C) No.21/2018 (X)
• W.P.(C) No.52/2018 (X)
• W.P.(C) No.91/2018 (X)
• W.P.(C) No.160/2018 (X)

Date : 28-03-2022 These matters were called on for hearing today.

CORAM :

HON'BLE MR. JUSTICE UDAY UMESH LALIT HON'BLE MS. JUSTICE BELA M. TRIVEDI

Counsel for the Parties:

Mr. R. Venkataramani, Sr. Adv. 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

Mr. Kumar Mihir, AOR Mr. Ravindra Kumar, Sr. Adv.

Mr. Binay Kumar Das, AOR Ms. Priyanka Das, Adv. Ms. Neha Das, Adv.

Mr. Siddhartha Dave, Sr. Adv.

• Mr. Gudipati G. Kashyap, Adv.
• Ms. T. Archana, AOR

Mr. Manoj Singh, Adv. Mr. Sanjay Kumar Visen, AOR Ms. Babita Mishra, Adv. Mr. Sanjay Jain, ASG Mr. Vikramjit Banerjee, ASG Mr. Mukesh Kumar Maroria, AOR Mr. Mukul Singh, Adv. Mr. Prashant Singh, Adv. Ms. Preeti Rani, Adv. Mr. Vikramjit Banerjee, ASG Ms. V. Mohana, Sr. Adv. Mr. Prashant Singh, Adv. Mr. Vikrant Yadav, Adv. Mr. Mukul Singh, Adv. Mr. Sughosh Subramnyam, Adv. Mr. Raj Bahadur Yadav, AOR Mr. Vikas Singh, Sr. Adv. Mr. Prashant Shukla, Adv. Ms. Anushree Shukla, Adv. Ashu Bhindwar, Adv. Mr. Divyesh Pratap Singh, AOR Mr. V. Giri, Sr.Adv. Mr. Amith Krishnan, Adv. Ms. Anushruti, Adv. Ms. Simran Arora, Adv. Mr. Subhash Choudhary, Adv. Mr. Udita Singh, AOR Mr. Vikramjit Banerjee, ASG Mr. Vibhu Shankar Mishra, Adv. Mr. Mukul Singh, Adv. Mr. Gurmeet Singh Makker, AOR Mr. Sughosh Subramnyam, Adv. Mr. Manish, Adv. Mr. R.D. Singh, Adv. Mr. Mani Shankar Mishra, Adv. Mr. Vikramjit Banerjee, ASG Mr. Gurmeet singh Makker, AOR Mr. Mukul Singh, Adv. Mr. Vibhu Shankar Mishra, Adv. Mr. Sughosh Subramnyam, Adv.

Mr. Manish, Adv.

Mr. Vikramjit Banerjee, ASG Ms. V. Mohana, Sr. Adv. Mr. Prashant Singh, Adv. Mr. Mukul Singh, Adv. Mr. Nachiketa Joshi, Adv. Mr. Sughosh Subramanyam, Adv. Mr. Arvind Kumar Sharma, AOR Mr. K.V. Viswanathan, Sr. Adv. Mr. Ramesh Babu M. R., AOR Ms. Manisa Singh, Adv. Ms. Nisha Sharma, Adv. Mr. Vikramjit Banerjee, ASG Mr. Amrish Kumar, AOR Ms. Garima Prasad, Sr. Adv. Mr. Abhinav Agrawal, AOR Mr. Ritin Rai, Sr. Adv. Mr. Anuj P. Agarwala, Adv. Mr. Aayush Agarwala, Adv. M/s. PBA Legal, AOR Mr. Vijay Kumar, Sr. Adv. Mr. Rajiv Kumar, AOR Mr. Sanjeev Gupta, Adv. Mr. Naveen R. Nath, Sr. Adv. Mr. Anuj Kapoor, AOR Ms. Lalit Mohini Bhat, Adv. Mr. Om Prakash Shukla, Adv. Mr. Yajur Sharma, Adv. Ms. Sonia Mathur, Sr. Adv. Ms. Charu Mathur, AOR Mr. Alishan Naqvi, Adv. Ms. Rupal Bhatia, Adv. Mr. Brijender Chahar, Sr. Adv. Mr. Aditya Jain-1, AOR Mr. Rishi K. Awasthi, Adv. Mr. Prashant Kumar, Adv. Ms. Ritu Arora, Adv. Mr. Piyush Vatsa, Adv. Mr. Sumeet Raj, Adv. Mr. Avinash Ankit, Adv. Mr. Santosh Kumar-I, AOR

Ms. Richa Kapoor, AOR Mr. Kunal Anand, Adv. Ms. Shivani Sharma, Adv. Ms. Surabhi Katyal, Adv. Ms. Saloni Mahajan, Adv. Mr. Sandesh Kumar, Adv. Ms. Jasmine Damkewala, AOR Mr. Pallav Mongia, Adv. Ms. Vaishali Sharma, Adv. Mr. Dinesh Chander Trehan, Adv. Mr. Abhigya Kushwah, AOR Mr. Pradeep Kumar Dubey, Adv. Mr. Siddharth Rajkumar Murarka, Adv. Ms. Sunita Yadav, Adv. Ms. Anamika Kushwaha, Adv. Mr. Vibhor Anand, Adv. Mr. Virender Arora, Adv. Mr. Shashank Shekhar, Adv. Mr. Manoj Kumar, Adv. Mr. Brijesh Kumar Tamber, AOR Mr. Saurabh Choudhary, Adv. Yashu Rustagi, Adv. Mr. Rajesh P., AOR Mr. Rahul Malhotra,Adv. Ms. Himanshi Madan, Adv. Mr. Sanjay Kapur, AOR Ms. Megha Karnwal, Adv. Mr. Devendra Kumar Singh, Adv. Mr. Karunakar Mahalik, AOR Ms. Shobha Gupta, AOR Mr. Rajendra Kumar Panigrahi, Adv. Jessy Kurien, Adv. Mr. Nishant Bahuguna, Adv. Mr. Vidit Agarwal, Adv. Mr. Shubham Jalan, Adv. Ms. Prachi Sharma, Adv. Ms. Sakshi Tiwari, Adv. Mr. Balaji Srinivasan, AOR Mr. Alok Kumar, Adv. Mr. Manan Gambhir, Adv. Mr. Nikil Malhotra, Adv. Ms. Garima Soni, Adv.

Mr. Sanjay Jain, Adv. Mr. Rajeev Kumar Dubey, Adv. Mr. Ashiwan Mishra, Adv. Mr. Kamlendra Mishra, AOR Mr. Pradeep Misra, AOR Mr. Daleep Dhyani, Adv. Mr. Suraj Singh, Adv. Mr. Dheeraj Nair, AOR Mr. Kislay Kumar, Adv. Ms. Vishrutyi Sahni, Adv. Mr. Abhinav Shrivastava, AOR Dr. Sasmit Patra, Adv. Mr. Rahul Gupta, Adv. Mr. Nirmal Prasad, Adv. Mr. Shivang Rawat, Adv. Mr. Kaushal Yadav, AOR Mr. Nandlal Kumar Mishra, Adv. Mr. Vivekanand Rana, Adv. Mr. Pramod Kumar, Adv. Ms. Akansha Rai, Adv. Ms. Apeksha Rai, Adv. Ms. Yashoda Katiyar, Adv. Ms. Kritiya Pandey, Adv. Ms. Shweta Yadav, Adv. Mr. Pradhuman Gohil, Adv. Ms. Taruna Singh Gohil, AOR Mr. Ashish Kabra, Adv. Mohammad Kamran, Adv. Ms. Ranu Purohit, Adv. Mr. R. Vishnu Kumar, Adv. Mr. Alapati Sahithya Krishna, Adv. Mr. Janender Kumar Chumbak, Adv. Ms. Radhika, Adv. Ms. Amita Singh Kalkal, AOR Mr. Rakesh Kumar Tewari, Adv. Mr. Krishna Kant Dubey, Adv. Mr. Vivek Kumar Pandey, Adv. Ms. Shuchi Singh, Adv. Mr. Sanjay Kumar Dubey, AOR Mr. Vaibhav Luthra, Adv. Mr. Mithu Jain, AOR Mr. Shreyan Das, Adv.

Mr. Rohit Kumar Singh, AOR Mr. Rahul Kumar Gupta, Adv. Ms. Chandni Arora, Adv. Mr. Shubham V. Gawande, Adv. Mr. M. T. George, AOR Ms. Susy Abrahm, Adv. Mr. Johns George, Adv. Mr. Rachit Mittal, Adv. Ms. Pooja Kapur, Adv. Mr. Sudhir Naagar, AOR Mr. Anand Kumar Vatsya, Adv. Mr. Sameer Singh, Adv. Ms. Neelam Singh, Adv. Mr. Vatsya Krishnaiya, Adv. Mr. Vijay Kumar Singh, Adv. Mr. Sahil Lochab, Adv. Mr. Vivek Mishra, Adv. Mr. Soumitra Chatterjee, Adv. Ms. Sriparna Chatterjee, Adv. Mr. Devendra Singh, AOR Mr. Divyakant Lahoti, AOR Mr. Parikshit Ahuja, Adv. Ms. Praveena Bisht, Adv. Ms. Vindhya Mehra, Adv. Mr. Kartik Lahoti, Adv. Ms. Madhur Jhavar, Adv. Ms. Shivangi Malhotra, Adv. Ms. Arti Singh, AOR Mr. Aakashdeep Singh Roda, Adv. Mr. Basant Pal Singh, Adv. Ms. Pooja Singh, Adv. Mr. Deepak Prakash, AOR Mr. Pawan Kr. Dabas, Adv. Mr. Siubhash Choudhary, Adv. Mr. Nachiketa Vajpayee, Adv. Ms. Divyangna Malik, Adv. Mr. Vaijayant Khanna, Adv. Ms. Vishnu Priya, Adv. Mr. Ashok Kumar Singh, AOR Ms. Pragya Singh, Adv. Ms. Akshay Singh, Adv. Mr. Shantwanu Singh, Adv.

Mr. Pai Amit, Adv. Ms. Komal Mundhra, Adv. Mr. Saurav Agrawal, Adv. Mr. Shantanu Singh, Adv. Mr. Sanveer Mehlwal, Adv. Ms. Geetanjali Mehlwal, Adv. Mr. Abdul Gaffar, Adv. Ms. Kamakshi S. Mehlwal, AOR Mr. Nirmal Kumar Ambastha, AOR Mr. Rahul Ranjan Verma, Adv. Ms. Ashmita Bisarya, Adv. Ms. Sujata Kumar Muni, Adv. Mr. Shovan Mishra, AOR Ms. Bipasa Tripathy, Adv. Mr. Arpit Rai, Adv. Mr. Aviral Kashyap, AOR Mr. Ashutosh Shukla, Adv. Ms. Tanuj Bagga Sharma, AOR Dr. Ritu Bhardwaj, Adv. Mr. Naresh Kumar, AOR Mr. A.C. Mishra, Adv. Mr. Niteen Kumar Sinha, Adv. Ms. Reetu Saipawar, Adv. Ms. Elana Salim, Adv. Mr. Ram Naresh, Adv. For ACM Legal, AOR Mr. Niraj Gupta, AOR Md. Fuzail Khan, Adv. Ms. Anshu Gupta, Adv. Mr. Ashutosh Srivastava, Adv. Ms. E. R. Sumathy, AOR Ms. Savita Aggarwal, Adv. Ms. S. Spandana Reddy, Adv. Mr. Nishant Bhardwaj, Adv. Dr. Vijendra Mahyandiyan, Adv. Mr. Deepak Goel, AOR Ms. Pallavi Awasthi, Adv. Mr. Chaman Rana, Adv.

Mr. Tarun Diwan, Adv. Mr. Sumit Kumar, AOR Mr. Rajesh Pathak, Adv. Ms. Kumari Supriya, Adv. Mr. Hemant Kumar, Adv. Ms. Harshita Sinha, Adv. Ms. Jyoti Sinha, Adv. Mr. Raj Kamal, AOR Mr. Maheen Pradhan, Adv. Mr. Aseem Atwal, Adv. Mr. Avish Bhati, Adv. Mr. Anurag Chandra, Adv. Mr. Mohit Chaudhary, Adv. Ms. Puja Sharma, Adv. Mr. Kunal Sachdeva, Adv. Mr. Chowdhary Zulfkar Ali, Adv. Mr. Balwinder Singh Suri, Adv. Mr. Paras Mithal, Adv. Ms. Mahima Ahuja, Adv. Mr. Parveen Kumar, Adv. M/s. Kings And Alliance LLP, AOR Mr. Ashok Kumar Singh, Adv. Ms. Pragya Singh, Adv. Ms. Akshay Singh, Adv. Mr. Shantwanu Singh, AOR Mr. Satyajit A. Desai, Adv. Mr. Siddharth Gautam, Adv. Mr. Himanshu Sharma, Adv. Ms. Anagha S. Desai, AOR Mr. Sonal Jain, AOR Mr. Udayan Jain, Adv. Mr. Ishkaran Singh, Adv. Ms. Kajal Sharma, Adv. Mr. Ashish Bhan, Adv. Mr. Ketan Gaur, Adv. Mr. Ayush Mitruka, Adv. Mr. Ashish Bhan, Adv. Mr. Kaustub Narendran, Adv. Mr. Mahinder Singh Hura, Adv. Mr. Pushpendra S. Bhadoriya, Adv. Mr. Divjot Singh Bhatia, Adv. Mr. Saif Ali, Adv. Mr. Jasmeet Singh, AOR

Mr. Yajur Bhalla, Adv. Mr. Vijay Kumar Diwedi, Adv. Mr. Akhilesh Kumar Pandey, Adv. Mr. Ashish V. Vajpayee, Adv. Mr. Deepak Samota, Adv. Mr. Shubham Bhalla, AOR Mr. Kanhaiya Singhal, AOR Mr. Chetan Bhardwaj, Adv. Mr. Prasanna, Adv. Ms. Heena Tangri, Adv. Mr. Rishabh Jain, Adv. Ms. Priyal Garg, Adv. Mr. Ajay Kumar, Adv. Mr. Bishwajit Dubey, Adv. Ms. Srideepa Bhattacharyya, Adv. Ms. Aishwarya Gupta, Adv. Mr. Manpreet Lamba, Adv. M/s. Cyril Amarchand Mangaldas Aor, AOR Mr. Shiv Kumar Pandey, Adv. Mr. Chandrashekhar A. Chakalabbi, Adv. Mr. Awanish Kumar, Adv. Mr. Anshul Rai, Adv. Mr. Abhinav Garg, Adv. M/s. Dharmaprabhas Law Associates, AOR Ms. Mahima Bhardwaj, Adv. Mr. Ajay Singh, Adv. Mr. Shoaib Haider, Adv. Mr. Vishal Sharma, Adv. Mr. Rajeev Kumar Jha, Adv. Mr. Pranshu Kaushal, Adv. Mr. Shubham Awasthi, Adv. Mr. Vivek Narayan Sharma, AOR Mr. Rohit Sharma, Adv. Mr. Rounak Nayak, Adv. Mr. Anshul Chowdhary, Adv. Ms. Arju Chaudhary, Adv. Kumar Dushyant Singh, AOR Mr. Manish Raghav, Adv. Mr. Rohit Gour, Adv. Mr. Vivek Sharma, AOR Ms. Rachana Sharma, Adv. Mr. Manoj Tomar, Adv.

11

Mr. Ajay Bansal, AAG Mr. Sanjay Kumar Visen, AOR Mr. Gaurav Yadava, Adv. Ms. Veena Bansal, Adv. Mr. Aditya Nayyar, Adv. Ms. Farhat Jahan Rehmani, AOR Suman Tripathy, Adv. Mr. Rameshwar Prasad Goyal, AOR Mr. Saket Singh, Adv. Ms. Niranjana Singh, AOR Mr. Vikas Jain, AOR Mr. Manjeet Singh Rathor, Adv. Ms. Indrani Mukherjee, Adv. Ms. Tatini Basu, AOR Mr. Tushar Singh, AOR Mr. Dhruv Chawla, Adv. Dr. Sarvam Ritam Khare, AOR Mr. Nihar Ranjan Singh, Adv. Ms. Sangeeta Singh, AOR Mr. Harish Singh, Adv. Ms. Sayaree Basu Mallik, AOR Mr. Shishir Pinaki, AOR Mr. G. Balaji, AOR Mr. B. K. Satija, AOR Mr. Amit Pawan, AOR Ms. Pallavi Pratap, AOR Mr. Manish Kumar Saran, AOR Mr. Sukant Vikram, AOR Mr. Gopal Jha, AOR Mr. Shadan Farasat, AOR Mr. Kailash Prashad Pandey, AOR

Mr. Abdul Azeem Kalebudde, AOR Mr. A. P. Mohanty, AOR Mohammed Sadique T.A., AOR Mr. Gaurav Goel, AOR Mr. Akhilesh Kumar Pandey, AOR Ms. Rakhi Ray, AOR Ms. Tulika Mukherjee, AOR Mr. Badri Prasad Singh, AOR Ms. Ruchira Goel, AOR Mr. Rabin Majumder, AOR Mr. Abhijit Sengupta, AOR Mr. Rajesh Kumar Gupta, AOR Mr. Praveen Chaturvedi, AOR Mr. Siddhartha Jha, AOR Mr. Malak Manish Bhatt, AOR Ms. Sujata Kurdukar, AOR Mr. Sanchit Garg, AOR Mr. Prateek K Chadha, AOR Ms. Prerna Mehta, AOR Mr. Umesh Kumar Khaitan, AOR Ms. Sneha Kalita, AOR Mr. Jay Kishor Singh, AOR Ms. Mayuri Raghuvanshi, AOR Ms. Anisha Upadhyay, AOR Mr. Somesh Chandra Jha, AOR Mr. Awanish Sinha, AOR

• Mr. Somiran Sharma, AOR

• Ms. Astha Sharma, AOR

• Mr. Pramod Dayal, AOR

• Mr. Alok Tripathi, AOR

• Ms. Vandana Sehgal, AOR

• Ms. Anannya Ghosh, AOR

• Mr. Sanjai Kumar Pathak, AOR

• Mr. Aakarshan Aditya, AOR

• Mr. Pawanshree Agrawal, AOR

• Mr. Syed Mehdi Imam, AOR

• Mr. K. Paari Vendhan, AOR

• Mr. Ashwarya Sinha, AOR

• Ms. Kirti Renu Mishra, AOR

• M/s. Karanjawala & Co., AOR

• Mr. Sureshan P., AOR

• Mr. Kumar Sudeep, Adv.

• Ms. Dharitry Phookan, AOR

• Mr. Chandan Kumar, AOR

• Mr. Gaurav, AOR

• Mr. Ashok Mathur, AOR

• Ms. Manisha Ambwani, AOR

• Ms. Chandan Ramamurthi, AOR

• Ms. Mona K. Rajvanshi, AOR

• Mr. Mishra Saurabh, AOR

• Mr. Christopher Dsouza, AOR

• Ms. Divya Roy, AOR

• Mr. Kabir Dixit, AOR

• Mr. S. K. Verma, AOR

• Mr. Somanatha Padhan, AOR

• Ms. Anindita Pujari, AOR

• Mr. Rajat Mittal, AOR

• Mr. Rahul Joshi, AOR

• Mr. Vipin Kumar Jai, AOR

• M/s. Shakil Ahmad Syed, AOR

• Mr. Ravindra Sadanand Chingale, AOR

• Mr. Sumit Sinha, AOR

• Mr. T. Mahipal, AOR

• Ms. Shilpa Liza George, AOR

• Mr. Ranjit Kumar Sharma, AOR

• M/s. D.S.K. Legal, AOR

• Mr. G. N. Reddy, AOR

• Mr. Vishnu Sharma, AOR

• Mr. Ritesh Agrawal, AOR

• Ms. Indra Sawhney, AOR

• Mr. Aneesh Mittal, AOR

• Mr. Vishal Gupta, AOR

• Ms. Mridula Ray Bharadwaj, AOR

• Mr. Aman Gupta, AOR

• Mr. Chandra Prakash, AOR

• Mr. Bhuwan Raj, AOR

• Mr. E. C. Vidya Sagar, AOR

Mr. Dharmendra Kumar Sinha, AOR
Mr. Uddyam Mukherjee, AOR
Mr. Anil Kumar Mishra-I, AOR
Mr. Kaushik Choudhury, AOR
Mr. Rohit Amit Sthalekar, AOR
Mr. Anas Tanwir, AOR
Mr. Ejaz Maqbool, AOR
Ms. Charu Ambwani, AOR
Ms. Swarupama Chaturvedi, AOR
Mr. Rishi Matoliya, AOR
Mr. Tahir Ashraf Siddiqui, AOR
Ms. Anubha Agrawal, AOR
Ms. Bharti Tyagi, AOR
Mr. Anoop Prakash Awasthi, AOR
Mr. Anil K. Chopra, AOR
Mr. Kedar Nath Tripathy, AOR
Ms. Rashmi Singh, AOR
M/s. Devasa & Co., AOR
Mr. Sunil Fernandes, AOR
Ms. Rajkumari Banju, AOR
M/s. V. Maheshwari & Co., AOR
Mr. Ajit Sharma, AOR
Ms. Aruna Gupta, AOR

UPON hearing the counsel the Court made the following O R D E R

PART – I

NOTE SUBMITTED BY MR. R. VENKATARAMANI, COURT RECEIVER

A) Re.: FUNDING BY BANKS

AND

B) Re: I.A. NO.33118 OF 2022 (VOL. NO.I-191) (APPLICATION FOR CLARIFICATION)

Out of seven members of the Consortium, six Banks have already given their final approval. The in-principle approval by the Indian Bank has also been given on 18.12.2021 and the final approval is expected today by 4.00 p.m.

The application (Vol.I-191) moved on behalf of the Reserve Bank of India has sought certain clarifications/modifications particularly with regard to directions 'A to C' in the order dated 13.08.2021.

On the last occasion, this Court directed the concerned parties including the Members of the Consortium, the Reserve Bank of India and learned Receiver to have discussions on the point and come with an agreed understanding or suggestions which could be taken into account by this Court while passing directions.

Learned Receiver in his Note dated 27.03.2022 has annexed a copy of the communication dated 25.03.2022 written by Mr. Vaibhav Chaturvedi, General Manager, Reserve Bank of India.

With regard to paragraphs 'A to C' in the order dated 13.08.2021, the

communication stated as under:

"2. Based on the deliberations held during the meeting, our humble submissions suggesting modifications in the Order dated August 13, 2021 are given below:

a) As regards Part A of the Order regarding funding by banks, the prudential deviations may not be specified in the Order, rather an opening may be provided for the banks to approach RBI in case any relaxations are required in case of future defaults. Considering the specific circumstances surrounding the Amrapali case and the monitoring/orders issued by the Hon'ble Supreme Court, RBI is willing to assure the Hon'ble Supreme Court that it will provide necessary forbearance as and when banks approach it if any recovery issue arises in future leading to defaults by ASPIRE. Accordingly, Part A on page 21 of the Order ibid may kindly be amended as below:

• A. That in the event of any default or delay in the repayment obligation of ASPIRE the banks may approach the Reserve Bank of India which shall consider the requests for necessary forbearance from the prudential norms.
• B. As regards Part B of the Order, it is respectfully submitted that the extant norms of RBI do not prescribe any specific risk weight for loans falling under the priority sector lending category. Hence, the order seems to be premised on certain incorrect assumptions related to RBI guidelines. It is, therefore, submitted that Part 'B" may be considered for deletion.
• C. As regards Part C of the Order, the extant regulations do not envisage any mandatory external rating of borrowers. It is left to the banks to decide whether a borrower has to be rated or otherwise. Hence, we do not have any specific objection to this."

As is evident from the communication, the Reserve Bank of India has no difficulty with regard to Paragraph 'C' of the order whereas it is seeking deletion of Paragraph 'B'. With regard to Paragraph 'A', according to the Reserve Bank of India, in the event of any default or delay in the repayment obligation of ASPIRE, the Banks must approach the Reserve Bank of India, which may then consider the request.

Mr. K.V. Viswanathan, learned Senior Advocate submits that the Reserve Bank of India may first consider the case whereafter the matter in terms of Paragraph 'A' can be looked into by the Court. He then referred to sub-paragraphs (i) to (iii) of Paragraph IV and to Paragraph V of the Note of the Receiver, which paragraphs are:

"IV. In view of the above and the satisfaction factor emerging in the RBI communication, the Court may be pleased to make the following observations:

• (i) That the directions contained in the order dated 13.08.2021 have been drawn keeping in mind the issues arising out of execution of the Amrapali projects under orders of the Court, the special need to provide an impetus and a comfort zone for funding agencies and therefore they shall be exclusively applicable to and confined only to ASPIRE, acting as an instrumentality of the Court and not to be treated as precedent in any circumstance.
• (ii) That in the event of any default or delay in the repayment obligation of ASPIRE, the banks may approach the Supreme Court which shall pass necessary oders. (This provision is part of the terms of agreement with the Banks). Forbearance if any from the prudential norms in future, will then be considered by the Court taking into account the circumstances then obtaining, and the inputs from RBI. Suitable arrangements be made by the Court so as to protect the interest of the Banks, all stakeholders including Home Buyers and completion of the projects.
• (iii) The funding sanctions (Annexure C) already issued by the Banks shall be given effect to and necessary disbursals shall be made immediately so as to complete the disbursal process on or before 31.03.2022 in order that payments can be released to NBCC without delay.

V. As regards the concerns of RBI in relation to Para 'B' regarding "Priority sector lending", its consideration may be deferred. The Committee would like to place its response in this regard. The disbursal of funds directed to take place, shall proceed without being affected by the future consideration of Para 'B'."

Mr. Venkataramani, learned Court Receiver and Mr. Alok Kumar, learned Advocate appearing for the Consortium submit that Paragraphs 'A to C' of the order dated 13.08.2021 were finalized after lot of deliberations and in the peculiar facts and circumstances of the case. It is submitted that Amrapali Projects and the execution of the construction needed impetus and a comfort zone to be afforded to the agencies. Therefore, the special dispensation was provided for in Paragraph 'A' of the Order dated 13.8.2021.

We see force in the submissions made by learned Court Receiver and Mr. Alok Kumar, learned Advocate.

We therefore do not deem it appropriate to modify or change the terms of Paragraph 'A' of the order dated 13.08.2021. We may however observe that if an occasion arises, this Court will certainly look into the matter after taking appropriate inputs from the Reserve Bank of India. This itself may provide adequate protection and take care of the apprehensions expressed by the Reserve Bank of India.

The submissions made by the learned Receiver in sub-paragraph (i) and (ii) of Paragraph IV quoted above shall be taken as the spirit with which Paragraph 'A' of the Order dated 13.8.2021 was accepted by this Court.

Since there is no opposition to Paragraph 'C', said Paragraph 'C' is retained as it is. With regard to Paragraph 'B', we may observe that having considered the matter and the Note submitted by the learned Court Receiver, the consideration with regard to Paragraph 'B', at this stage, is deferred.

Having dealt with the apprehensions expressed by the Reserve Bank of India, the directions in terms of Paragraph IV (iii) of the Note of the learned Receiver are now called for.

We, therefore, direct all the Members of the Consortium to effectuate funding by 29.03.2022 so that the NBCC can be put in funds by way of appropriate disbursal on or before 31.03.2022.

C) Re.: SALE OF RESORT LAND AT UDAIPUR

At the request of learned Court Receiver, we adjourn this matter to 04.04.2022.

PART - II

Re: I.A. No. 12572 OF 2022 (Vol. No.I-185) and I.A. No.31467 of 2022 (Vol. No.Z-386) – Applications on behalf of M/s. La Residentia Developers Private Limited

Mr. Amit Pai, learned counsel appearing for UP RERA seeks short accommodation. At his request, the matter is adjourned to 04.04.2022.

In the meantime, the response of UP RERA be placed on record.

Mr. V. Giri, learned Senior Advocate prays for and is granted 3 days' time to put

in rejoinder to the affidavits in reply which have already been placed on record.

PART-III

Re.: MATTERS CONCERNING MR. PREM MISHRA, RELATED PERSONS AND OTHER ENTITIES

[IA No.8259/2019 – For Intervention/Direction (Vol. No.Z-88); IA No.74385/2020 - For Direction (Vol. No.I-131), IA Nos.90985 and 90986 of 2020 – For Direction and for Exemption from Filing Attested Affidavit (Vol. No.I-141); Affidavit in Compliance of Order dated 07.12.2020 (Vol. No.R-138); Provisional Attachment Order No.01/2021 dated 22.02.2021 passed by the Enforcement Directorate (Vol. No.R-173), and, Objection to the observations made against the applicant by Forensic Auditor in Reports dated 23.07.20219 and 10.10.2019 (Vol. No.R-86)]

The submissions have been advanced by Mr. M.L. Lahoty and Mr. Kumar

Mihir, learned Advocates.

The submissions of Mr. Vikas Singh, learned Senior Advocate are yet to be completed.

For further hearing, list the matter on 04.04.2022.

PART – IV

All the remaining Interlocutory Applications on Board are adjourned to 04.04.2022 at 2.00 p.m.

(MUKESH NASA) (VIRENDER SINGH) COURT MASTER BRANCH OFFICER