Tribunal upholds order for Corporate Debtor to disclose Allottees' info, emphasizes transparency and legal obligations.

The Tribunal dismissed the appeal filed by the Corporate Debtor against the order directing them to provide information about the Allottees. It emphasized the importance of transparency and the legal obligation to provide necessary information for potential class action, stating that it did not violate the Corporate Debtor's rights. The ruling aimed at ensuring compliance with transparency requirements, facilitating legal actions, and enabling stakeholders to exercise their rights effectively. The Corporate Debtor was directed to display Allottees' information on their website and provide necessary details upon request within two weeks.

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Issues:
1. Appeal against the order directing the Corporate Debtor to provide information about the Allottees.

Analysis:
1. The appeal was filed by the Corporate Debtor against an order directing them to provide information about the Allottees. The Corporate Debtor argued that the direction was violative of the ordinance and the Hon’ble Apex Court's direction in a related matter. They also claimed that the required information was already available on the RERA website. The Tribunal noted that the impugned order did not decide on the initiation of Corporate Insolvency Resolution Process. It stated that in the current era of transparency and information accessibility, the order to provide information to the Allottee for potential class action was not erroneous. The Tribunal clarified that the Apex Court's order related to maintaining status quo in pending cases and did not prohibit providing information for initiating class action under the I&B Code. The Tribunal found no merit in the appeal and directed the Corporate Debtor to display Allottees' information on their website within two weeks and provide necessary information to the Allottee upon request.

2. The Tribunal's decision emphasized the importance of transparency and the legal obligation of the Corporate Debtor and Regulator to provide necessary information about Allottees. It clarified that the direction to provide information for potential class action did not infringe upon any legal rights of the Corporate Debtor. The Tribunal highlighted that the information displayed on the RERA website was not sufficient, and providing additional details to the Allottee for initiating class action was reasonable. The Tribunal's ruling aimed at ensuring compliance with transparency requirements and facilitating the Allottee in gathering support for potential legal actions. The decision upheld the need for disclosure of information to maintain accountability and enable stakeholders to exercise their legal rights effectively.

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