In Brief
Depositors of Dewan Housing Finance Corporation challenged the High Court's interim orders affecting their claims in insolvency proceedings. The Supreme Court held that the Committee of Creditors and Administrator must consider depositor claims independently, without being bound by prior High Court orders or Debt Recovery Tribunal decisions. The Court allowed depositors to raise all contentions through their Authorized Representative before the insolvency forums. With nearly one lakh depositors affected, the Court emphasized that their legal rights must be respected according to law while the insolvency process proceeds.
The lawyer headnote and full judgment text are available to registered users.