Sri Gopal Choudhary vs Indiabulls Housing Finance Limited
- CitationContempt Case (AT) No. 24 of 2023
Ratio decidendi
The rule this decision rests on
The reasoning in this order is brief but present: the Tribunal holds that a direction restraining the Committee of Creditors from taking "any further steps" does not extend to the constitution of the Committee, because the earlier order did not stay its constitution. On that basis, the contempt petition alleging reconstitution of the CoC as a breach of the order fails.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Contempt Case (AT) No. 24 of 2023 in Comp. App. (AT) (Ins) No. 982 of 2021 IN THE MATTER OF: Vikas Kasliwal ...Petitioner
Versus
Pankaj Ramandan Majithia & Anr. ...Respondents Present: For Appellant : Mr. J. S. Attri, Sr. Adv. with Mr. Arav Pandit, Mr. Kumar Ranjan, Advocates For Respondent :
ORDER
18.10.2023: The Petitioner has filed this Contempt Petition against the
alleged contemnors for the alleged violation of the order dated 17.12.2021
passed in CA (AT) (Ins) No. 982 of 2021. The order dated 17.12.2021 read as
under:-
"List these Appeals on 10th January, 2022. In the meanwhile, the Committee of Creditors shall not take any further steps in the matter. Learned Counsel for the parties are permitted to file convenience compilation in Company Appeal (AT) (Ins) No.982 of 2021 and also their short written notes along with the Judgements relied.
Company Appeals (AT) (Ins) No.1061 and 1063 of 2021 In these Appeals, Mr. Vikram Nankani, Sr. Advocate appears for the Respondent. He prays and is allowed two weeks' time to file Reply. Rejoinder, if any, may be filed within one week thereafter. We observe that parties may complete their pleadings before the next date."
2. It is averred in Para 7(k) of the Petition and also submitted before us
orally that the Respondents have committed contempt of the order dated
17.12.2021 passed by this Court by reconstituting the CoC on 01.03.2023.
3. We have heard Counsel for the Petitioner and after perusal of the record
are of the considered opinion that no contempt is made out because direction
of this Court contained in the order dated 17.12.2021 was to the CoC that
they shall not take any further steps whereas the constitution of CoC was not
stayed. As a result thereof, the present contempt petition is totally mis-
conceived and thus, the petition is dismissed. No costs.
[Justice Rakesh Kumar Jain] Member (Judicial)
[Mr. Naresh Salecha] Member (Technical) Sheetal/Ravi
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