This case involves a contempt petition filed in relation to a Civil Appeal No. 5041/2021 before the Supreme Court of India. The court is addressing the issue of disbursal of funds to fifteen applicants (home buyers). An amount of Rupees One crore is already in deposit with the Registry of the Court pursuant to an order dated 26 August 2022. The court is directing the IRP to deposit a further amount of Rupees One crore. An appeal has been filed before the Supreme Court in Union Bank of India v Ram Kishor Arora against the order of the NCLAT.
A contempt petition (CONMT.PET.(C) No. 151/2022) was filed in connection with Civil Appeal No. 5041/2021. The court is dealing with the disbursal of funds to fifteen applicants (home buyers). An amount of Rupees One crore is already deposited with the court registry as per the order dated 2022-08-26. The court has directed the IRP to deposit another Rupees One crore by 2022-12-08 for pro rata distribution among the applicants. The disbursal is subject to the applicants' undertaking regarding outstanding loans, which should be repaid from the distributed amount. An appeal (Union Bank of India v Ram Kishor Arora) against the NCLAT order is pending before the Supreme Court, and the case is listed for further proceedings on 2022-12-12. The amounts due to the fifteen
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This case involves a contempt petition filed in relation to a Civil Appeal No. 5041/2021 before the Supreme Court of India. The court is addressing the issue of disbursal of funds to fifteen applicants (home buyers). An amount of Rupees One crore is already in deposit with the Registry of the Court pursuant to an order dated 26 August 2022. The court is directing the IRP to deposit a further amount of Rupees One crore. An appeal has been filed before the Supreme Court in Union Bank of India v Ram Kishor Arora against the order of the NCLAT.
A contempt petition (CONMT.PET.(C) No. 151/2022) was filed in connection with Civil Appeal No. 5041/2021. The court is dealing with the disbursal of funds to fifteen applicants (home buyers). An amount of Rupees One crore is already deposited with the court registry as per the order dated 2022-08-26. The court has directed the IRP to deposit another Rupees One crore by 2022-12-08 for pro rata distribution among the applicants. The disbursal is subject to the applicants' undertaking regarding outstanding loans, which should be repaid from the distributed amount. An appeal (Union Bank of India v Ram Kishor Arora) against the NCLAT order is pending before the Supreme Court, and the case is listed for further proceedings on 2022-12-12. The amounts due to the fifteen
…An order was issued to…
The appeal in Union Bank of India v Ram Kishor…
Sign in to view related legal provisions.