The learned ASG is correct in saying that there ought to be a timeframe for the entertainment of claims. In actuality, claims that were submitted after the previous deadline was handled. The reports stated, “We need to stop the crisis, therefore we’ve determined to make November 30, 2022, the final day to submit any claims.” After then, it will be presumed that the claims are either nonexistent or have been abandoned. As Dr. Nowhera Shaik pledged, there must be enough promotion to achieve the aforementioned goal.

In comparison to what the petitioners claimed in front of the court, the sum that the tax authorities found to be realizable from the sale of the property is much less.

The appeal of the petitioners

An experienced senior attorney, Mr. Ranjit Kumar, asserts on behalf of the petitioners that they have ready buyers who are willing to pay more than Rs. 800 crores for the properties, which are worth more than 110 crores.

As it makes it reasonable that the buyer(s) would prefer not to know every detail, they will permit the petitioners to submit their offer in a sealed cover. The importance of fast payment has been emphasized to them by the court, especially for a figure of Rs. 400 billion, which would be enough to appease all investors up to this moment. It should go without saying that this court would consent to remove any land attachments if doing so would simplify the process.

SFIO investigation procedures

The petitioners would keep helping the authorities with the claim verification procedure. The petitioners contend that NBWs are still being issued by various courts in various states even though the SFIO is undertaking a thorough inquiry. The dates will be important information if the SFIO looks into this situation. The required details could also be offered by the petitioners.

Dr. Nowhera Shaik has stated that they will handle this situation properly as soon as the money is produced before this Court.