NATIONAL SPOT EXCHANGE LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) IA No. 16646/2021 - APPROPRIATE ORDERS/DIRECTIONS IA No. 115989/2019 - APPROPRIATE ORDERS/DIRECTIONS The applications are dismissed as withdrawn.

(2.) Writ Petition(s)(Civil) No(s). 995/2019 The limited contours of the controversy before us emanating from the present proceedings is the safeguarding of the interests of the investors/claimants.

(3.) In respect of the aforesaid, learned counsel for the petitioner had canvassed before us on 22/2/2022 that the way out would be that the properties attached by the respondent(s) are sold and monies brought into Court. This is in the context of decrees passed for the benefit of the petitioner where the same very properties which were attached were sought to be utilized to satisfy the claims. He thus, suggested that once the monies are brought in, even the claims of the petitioners/investors can be satisfied and one will know exactly what is the balance amount which remains as otherwise both the processes are going on at cross purposes even though the properties from which recoveries can be made are attached.