CIC not to direct RBI To disclose defaulters & NPAs List till SC Verdict

The Hon’ble Supreme Court in the matter of Central for Public Interest Litigation Vs. Housing & Urban Development Corp. Ltd. & Ors. in WP(s)(C) No. 573/2003 in which the petitioner requested to make public the names of defaulters in excess of Rs. 500 crores from different institutions in the light of RBI Vs. Jayantilal N. Mistry judgment, the Hon’ble Supreme Court vide order dated 18.11.2016 held that “The Government has therefore acting in right earnest set up a Committee to look into the nature and extent of the problem and the proposed reforms. The Committee, we are told has already held several meetings and is about to finalize its report with recommendations. It will, therefore, not be proper at this stage to prevent the Committee from taking the proceedings to their logical conclusion especially when the recommendations to be made by the Committee are subject to scrutiny of this Court as also of the, petitioners. As regards the Government’s resolve to reform the statutory and other mechanism for recovery of the NPAs through the ORT and SARFAESI Act we direct that a’ comprehensive note indicating the Government’s action plan in that direction may be filed, if so advised in a sealed cover for the perusal of this Court.”

Having considered the submissions of both the parties, the Commission observes that since a similar issue is pending adjudication before the Hon’ble Supreme Court in the matter of Central for Public Interest Litigation Vs. Housing & Urban Development Corporation Ltd. & Ors., it would be judicious to await the final outcome from the Hon’ble Supreme Court. However, on receipt of the final outcome from the Hon’ble Supreme Court in the matter, the appellant shall be at liberty to file a second appeal afresh, if he so desires. The instant appeals are disposed of.

FULL TEXT OF THE CIC ORDER IS AS FOLLOWS