9911796707
TMI Blog2021 (1) TMI 1247X X X X Extracts X X X X X X X X Extracts X X X X ..... triggering of Corporate Insolvency Resolution Process. By merely directing the Corporate Debtor to provide information to the Respondent Allottee to meet the threshold criteria to initiate the class action in the face of the ordinance laying such threshold limit, no legal right vested in the Appellant /Corporate Debtor can be said to have been infringed. In this age of transparency, knowledge an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Regulator are under legal obligation to display the particulars in regard to allottees on their websites. No prejudice can be claimed by the Appellant on account of the direction in so far as the same relates to providing information in regard to allottee for limited purpose of enabling it to garner necessary support for initiating class action. The appeal is disposed off with the direction t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor against impugned order dated 8th December, 2020 directing the Corporate to provide information about the 100 number of Allottees or 1/10th of total number of the Allottees of the project, whichever is less, excluding those with whom settlement has happened, is that such direction apart from being violative of the provisions of the ordinance and the direction of the Hon ble Apex Court in Writ P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . In this age of transparency, knowledge and information revolution coupled with the fact that adequate information as required by the Respondent Allottee is not displayed on the website of the Corporate Debtor, as emanating from the impugned order, we are of the considered opinion that the impugned order cannot be termed to be erroneous or unsustainable. In so far as the direction given by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or initiating class action. 3. In the given circumstance, while we find no merit in the appeal, we dispose off this appeal with direction that the Corporate Debtor will display the information in regard to the allottees with full particulars on its website within two weeks from today and that in the event Respondent Allottee approaches the Appellant for providing necessary information, same s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
