Court Allows Document Exemptions, Adds Parties, Clarifies Order, and Approves Rs. 80.25 Crore Disbursement to Creditors.

The court granted exemptions from filing original documents, allowed impleadment of additional parties, and clarified a previous order by correcting typographical errors. It approved a mechanism for disbursing approximately Rs. 80.25 Crores to creditors and investors, ensuring partial satisfaction of claims. Various applications were withdrawn or disposed of as infructuous, facilitating the resolution of claims while preserving parties' rights.

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Issues Involved:
1. Exemption from filing original and clear copies of documents.
2. Impleadment of additional parties.
3. Clarification/modification of a previous court order.
4. Disbursal of funds to creditors and investors.
5. Withdrawal and disposal of various applications.

Detailed Analysis:

1. Exemption from Filing Original and Clear Copies of Documents:
The court granted exemptions to the applicants from filing the original and clear copies of documents at this stage, stating, "Keeping in view the averments in the applications, applicants are exempted from filing the original and clear copies of the documents at this stage." This order was made without prejudice to the rights and contentions of the parties, and the applications were disposed of accordingly.

2. Impleadment of Additional Parties:
Applications for impleadment were filed by parties who claimed to belong to the same class of investors as the plaintiffs. The court issued notices, and the defendants had no objections to the impleadment. Consequently, the court allowed the applications, stating, "Keeping in view the aforesaid consent of the parties as well as the facts of the present case, the present impleadment applications are allowed." An amended memo of parties was to be filed within one week.

3. Clarification/Modification of a Previous Court Order:
The plaintiff filed an application under Section 151 CPC for clarification/modification of the order dated 03rd October 2018 due to inadvertent errors in the spelling of names in the Schedule/disbursement List. The court accepted a revised list of Unit holders/investors and corrected the typographical error, stating, "Consequently, the present application is allowed and the order dated 03rd October, 2018 shall now read as under."

4. Disbursal of Funds to Creditors and Investors:
A draft consensual order along with a schedule of payments to creditors was submitted and taken on record. The court noted, "Without adverting to the merits of the matter, it may be noted that approximately Rs. 80.25 Crores (inclusive of interest) are lying with the Registry of this Hon'ble Court." The court approved a mechanism for disbursing the funds, ensuring partial satisfaction of claims while keeping the remaining claims alive. The court emphasized that "the disbursal of the monies is being undertaken on a formula without prejudice to the rights and contention of the parties." The court directed the Registrar General to release payments in accordance with the consensual order and scheduled the next hearing for 31st January 2019.

5. Withdrawal and Disposal of Various Applications:
Several applications were withdrawn or disposed of as infructuous. The court noted, "Learned counsel for the applicants/plaintiffs wishes to withdraw the present applications with liberty to re-file the same after 31st March, 2019." Other applications became infructuous or were disposed of with the consent of the parties, including applications for condoning the delay in filing written statements, which were taken on record.

Conclusion:
The judgment addressed multiple procedural and substantive issues, including the exemption from filing original documents, the impleadment of additional parties, the clarification of previous orders, the disbursal of funds to creditors, and the withdrawal or disposal of various applications. The court's orders aimed to facilitate the resolution of claims while preserving the rights and contentions of all parties involved.

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