Present:          Sh. Dharam Raj, Advocate for the DH.

                   On perusal of present execution petition, we have observed that the said execution petition was filed by the decree holder in the context of order passed by this Commission on 2.1.2023.

          In this context and in the interest of payment of decreetal amount, the recent judgment of Hon’ble Supreme Court of India is referred wherein while deciding application titled Pinak Pani Mohanty Vs Union of India and Ors (Reportable) in I.A. No. 56308 of 2023 in Writ Petition ( C) No. 191 of 2022 which had been preferred by Union of India, Ministry of Cooperation for appropriate directions to transfer an amount of Rs. 5000 crores out of unutilized amount lying in Sahara –SEBI Refund Account,  our Hon’ble Supreme Court of India,  vide order dated 29.3.2023 has disposed off the said application with the directions that “out of total amount of Rs.24,979.67 crores lying in the Sahara-SEBI Refund Account, Rs 5000 crores be transferred to the Central Registrar of Cooperative Societies who in turn, shall disburse the same against the legitimate dues of the depositors of Sahara Group of Cooperative Societies, which shall be paid to the genuine depositors in the most transparent manner and on proper identification and on submitting the proof of their deposits and proof of their claims and to be deposited in their respective bank accounts directly”. As per the contents of said order of Hon’ble Supreme Court of India, the manner and modalities for making the payment is to be worked out by the Central Registrar of Cooperative Societies in consultation with Justice R. Subhash Reddy, Former Judge of the Supreme Court and Shri Gaurav Aggarwal, learned Advocate.

              So, in view of above observations/directions passed by our Hon’ble Supreme Court of India, we have observed that the present execution also pertains to the legitimate dues of the depositor (i.e.
Decree holder in the present execution) of Sahara Group of Cooperative Societies, which was awarded by this Commission vide order dated 2.1.2023, but the same has not been still paid by the Sahara Group of Cooperative Society and hence, the same is subject matter of the present execution petition. There are now directions of Hon’ble Supreme Court of India that the amount be paid to the respective genuine depositors of the Sahara Group of Cooperative Societies out of the aforesaid amount of Rs. 5000 crores at the earliest.  So, we think that there is no need to keep the present execution pending before the Commission because the disbursement shall be supervised and monitored by Justice R. Subhash Reddy, Former Judge of the Hon’ble Supreme Court with the able assistance of Shri Gaurav Aggarwal, learned Advocate, who is appointed as Amicus Curiae to assist Justice R. Subhash Reddy as well as the Central Registrar of Cooperative Societies in disbursing the amount to the genuine depositors of the Sahara Group of Cooperative Societies, which includes the present complainant/DH. Accordingly, as discussed above, the present execution is also disposed off.

                   Papers be consigned to the record-room.