Panel under retired CJ formed to recover dues from developer

The committee will carry out the task of identifying the investors, the lands that have been purchased, getting the land valued and raising funds for settlement of dues of investors/depositors by actual sale of landed properties. 

The first bench comprising Chief Justice Indira Banerjee and Justice M Sundar on observing that the amicus curiae B Kumar and M S Krishnan have painstakingly studied the matter and made their recommendations in the creation of a committee consisting inter-alia of competent authority under TNPID Act 1997, which we deem appropriate to accept, said, “It will be open to the committee to engage Chartered Accountants of repute, valuers, lawyers and to employ such other professional services as the committee might deem it necessary.

The HC dismissed a PIL for a direction to the EC and SEC to de-reserve the Arakkonam SC constituency to general category for the 2021 polls and for future elections. The first bench, comprising Chief Justice Indira Banerjee and Justice M Sunder, concurred with the submission of the counsel for the EC, that Article 329(a) of the Constitution is a constitutional bar, owing to which, such a petition should not be entertained by the court.