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TMI Blog2017 (12) TMI 665X X X X Extracts X X X X X X X X Extracts X X X X ..... s, who have made substantial payments to Respondent No. 1 company and no construction has commenced. It has further been urged that there are 51,000 depositors and respondent No. 1 company owe them approximately a sum of Rs. 723 crores. There appears to be a large number of other irregularities, which have been investigated in pursuance of order dated 06.10.2016 passed by this Tribunal while disposing of C.P. No. 124(ND)/2016 with C.A. No. 41(ND)/2016. We are persuaded to record that the affairs of the company are not being carried in accordance with the provisions of the Companies Act, 2013. In fact, it prima facie appears to us that the affairs of the Respondent 1 company are being conducted against large public interest. Therefore, a pri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th antecedents of the nominee directors supported by an affidavit of a responsible officer be filed enabling this Bench to examine about their antecedents, eligibility and qualification. A copy of this order be given today itself under the signature of the Bench Officer. List the matter on 20th December, 2017, ** & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Agarwal was appointed as amicus curiae for all the projects with certain directions. On 21.09.2017, the Amicus Curiae pointed out that a sum of Rs. 7816 crores was required to be refunded to home buyers and he was directed to invite options from the home buyers of the 61 projects whether they were inclined to take possession of the flats or desirous to get the amount refunded. The matter was again taken up on 30.10.2017 when R-l company was also impleaded as a party at the behest of respondent no. 3 & 4. The Directors-respondent no. 3 and 4 were to get bail subject to deposit of a sum of Rs. 750 crores in the registry of the Supreme Court and further directions were issued. 8. After hearing learned Counsel for the parties, we direct that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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