2024-07-23
Subject:
O R D E R
During the course of hearing, it is pointed out that ₹811.4 0 crores are presently available in the cash escrow account (as o n
16th July 2024) .
The dues payable to the respondent, National Housing Bank, i n terms of the impugned judgment are about ₹151 crores. This paymen t of ₹151 crores will be made to the National Housing Bank .
This leaves us with the balance amount of ₹660.40 crores i n the cash escrow account. ₹655/- crores will be released to th e Committee of Creditors .
We clarify that this is only an interim arrangement. Payment s have been made in terms of the impugned judgment. The payment s will abide by and be subject to the final outcome of the presen t appeal .
Recording the aforesaid, I.A. No. 18566/2023 stands dispose d of .
(DEEPAK GUGLANI) (R.S. NARAYANAN )
AR-cum-PS ASSISTANT REGISTRA
R
ITEM NO.51 COURT NO.2 SECTION XVI I S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDING S Civil Appeal No. 2558/202 2 UNION BANK OF INDIA ON BEHALF OF TH E COMMITTEE OF CREDITORS OF DEWAN HOUSIN G FINANCE CORPORATION LIMITED Appellant(s )
VERSU S NATIONAL HOUSING BANK & ANR. Respondent(s )
(IA No. 18566/2023 - APPROPRIATE ORDERS/DIRECTIONS )
Date : 23-07-2024 These matters were called on for hearing today .
CORAM :
HON'BLE MR. JUSTICE SANJIV KHANN A HON'BLE MR. JUSTICE SANJAY KUMA R For Appellant(s )
Mr. Mukul Rohtagi, Sr. Adv .
Mr. Raunak Dhillon, Adv . Ms. Madhavi Khanna, Adv .
Ms. Niharika Shukla, Adv .
M/s. Cyril Amarchand Mangaldas, AO R For Respondent(s )
Mr. Tushar Mehta, S.G. (N/P )
Mr. Mohammed Himayatullah, Adv .
Mr. Abhinav Agrawal, AO R Mr. Kartik Sharma, Adv .
UPON hearing the counsel, the Court made the followin g
O R D E R
During the course of hearing, it is pointed out that ₹811.4 0 crores are presently available in the cash escrow account (as o n
16th July 2024) .
The dues payable to the respondent, National Housing Bank, i n terms of the impugned judgment are about ₹151 crores. This paymen t of ₹151 crores will be made to the National Housing Bank .
This leaves us with the balance amount of ₹660.40 crores i n the cash escrow account. ₹655/- crores will be released to th e Committee of Creditors .
We clarify that this is only an interim arrangement. Payment s have been made in terms of the impugned judgment. The payment s will abide by and be subject to the final outcome of the presen t appeal .
Recording the aforesaid, I.A. No. 18566/2023 stands dispose d of .
(DEEPAK GUGLANI) (R.S. NARAYANAN )
AR-cum-PS ASSISTANT REGISTRA R
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Calculation of decretal amount – If amount deposited by Judgment debtor falls short of decretal amount, decree-holder is entitled to apply rule of appropriation.
The main legal point established in the judgment is the significance of a settlement between the parties in influencing the court's decision and the disposal of the appeal.
Interest on decreed amounts will not cease upon deposit in a court other than the executing court; actual payment to the decree holder is required to stop interest accrual.
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