- (1.) The Union of India has moved these two applications in the two disposed of appeals. The applications relate to the administration of what may be referred to as the Bhopal Gas Leak Disaster Settlement Fund, now held with the Reserve Bank of India in the name of the Registrar of the Supreme Court of India, pursuant to the orders of this Court. The Fund consists of 420 Million US Dollars and about Rs. 68 crores deposited by the Union Carbide Corporation pursuant to the Court-negotiated settlement dated 14th and 15th February, 1989, arrived at in the appeals together with interest accruing thereon. The Fund also consists of certain remittances to the fund by the Red Cross Organisations representing the unspent balance of 5 Million US dollars.
(2.) The prayer in these applications is that the accounts respecting the fund with the Reserve Bank of India which have been held in the name of the Registrar of Supreme Court of India for over three and half years must now be transferred to and held and administered by the Welfare Commissioner appointed under the provisions of the Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985. The prayer is opposed by certain victim groups.
(3.) We have heard learned Attorney General for the Union of India and Shri Shanti Bhushan, learned Senior Counsel or the "Bhopal Gas Peedit Mahila Udyog Sanga than". Learned Attorney General submits that the Fund continued to remain in Court as the settlement itself was challenged in certain proceedings in review and that after the settlement was upheld in the Review Petitions it is appropriate that the Fund should now be held and administered by the concerned Statutory Authority and that, accordingly, the accounts be transferred to the Welfare Commissioner. Learned Attorney General adds that the Fund was not intended to be administered directly by the Supreme Court for the benefit of the victims and the Scheme framed under the Act should be allowed to work itself out in accordance with law.;