2013 (9) TMI 1204 - Board - Companies Law

Summary

Issues involved: Application seeking relief to initiate proceedings for criminal contempt against respondents u/s 15 of Contempt of Court Act for publishing news to influence public and judiciary regarding unfair treatment by M/S McDonald, USA towards Mr. Vikram Bakshi.

Summary:
The applicants, Mr. R P Khosla and Mr. Deepak Khosla, filed company applications u/s 15 of Contempt of Court Act against Mr. Vikram Bakshi, Mrs. Madhurima Bakshi, M/S Bakshi Holdings Pvt. Ltd, and various business journals. They alleged that Mr. Vikram Bakshi manipulated news to influence public opinion and judiciary, claiming unfair treatment by M/S McDonald, USA. Mr. Deepak Khosla argued that Mr. Bakshi colluded with business journals to extract money from McDonald by filing a company petition before the Company Law Board. The applicants contended that Mr. Bakshi used his position as a director to publish slanted news, portraying himself as unfairly treated by McDonald. They accused the respondents of interfering in the administration of justice by publishing opinionated information while the matter was sub-judice. The applicants requested the Board to initiate criminal contempt proceedings against the respondents.

The Board dismissed the applications, granting the applicants liberty to seek remedy before the appropriate forum.