Team Blitz India
NEW DELHI: The Supreme Court on October 30 held that a National Company Law Appellate Tribunal (NCLAT) bench comprising judicial member Rakesh Kumar and technical member Alok Srivastava wilfully defied its October 13 order by going ahead with the pronouncement of their verdict in the Finolex Cables case.
A bench headed by Chief Justice DY Chandarchud and Justices JB Pardiwala and Manoj Misra, however, closed the contempt proceedings against Kumar and Srivastava.
The bench, however, imposed a cost of Rs 1 crore on Deepak Chhabria, one of the parties to the corporate dispute, and Rs 10 lakh on a scrutiniser for their role in the case and said the amount be paid in four weeks.
The amount will be deposited with the Prime Minister’s relief fund, it said.
It directed that the matter will be dealt afresh by another NCLAT bench presided over by chairperson Justice Ashok Bhushan.
Earlier, the SC had issued notices to the tribunal’s judicial member and technical member asking why contempt proceedings be not initiated against them for defying apex court orders in theFinolex Cables case.