Rs.25k-cr Adarsh Credit case: HC sets aside order for ex-CJI panel
JODHPUR, Aug. 20 -- The Rajasthan high court has set aside a single judge's order appointing former Chief Justice of India Sanjiv Khanna to head a special committee to oversee the liquidation of Adarsh Credit Cooperative Society Limited and deal with competing claims arising from its properties, while keeping in place the attachment of the disputed assets and the status quo order.
A bench of justices Munnuri Laxman and Sangeeta Sharma said on Tuesday that the appointment of a retired CJI as a one-man commission to adjudicate claims and counterclaims could not be sustained, particularly when the Multi-State Cooperative Societies Act, 2002, provides its own statutory mechanism for dealing with the assets of a defunct cooperative society.
In the July 28 order that was partly challenged before the division bench, the single judge had recorded that investors had claimed approximately Rs.25,000 crore, including about Rs.10,000 crore towards principal and Rs.15,000 crore towards interest. More than 2 million investors were stated to have been awaiting the return of their money since 2018....
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हमे संपर्क करें.