CHITRA SHARMA Vs. UNION OF INDIA

JUDGEMENT

(1.) Though these matters were to be taken up at 2.00 p.m., learned counsel for the petitioners, Mr. K.K. Venugopal, learned Attorney General and learned senior counsel for the respondents agreed to have it taken in the first hour. In pursuance of earlier order, eight independent directors and five promoter directors are present.

(2.) It is submitted by learned senior counsel appearing for Jaiprakash Associates Limited (JAL) that the company is ready with 275 crores. The home buyers raised their concern about the realization of the amount. This Court appreciates the grievance and the concern of the home buyers.

(3.) We think it would be appropriate to direct as follows:-