2018 (10) TMI 1655 - SC - Indian Laws

Revival of Contempt petition - Held that - The amount that is to be paid to Mr. Dave s client shall be paid on or before 15.12.2018. We also make it clear that interest shall begin ticking on this amount at the rate of 12% p.a. for delayed payment beyond 30.09.2018 - no time beyond 15.12.2018, in any case, will be given. We also make it clear that Mr. Dave may revive his I.A. for contempt, if payment is not made - Application petition disposed off.

Summary

Issues: Impugned order dated 30.05.2018 passed by the National Company Law Appellate Tribunal; Delayed payment situation leading to non-compliance with court undertaking.

Analysis:
- The Supreme Court, comprising of Justices Rohinton Fali Nariman and S. Abdul Nazeer, heard the appeal and decided not to interfere with the impugned order dated 30.05.2018 passed by the National Company Law Appellate Tribunal, New Delhi. Consequently, the appeals were dismissed, and pending applications were disposed of.

- Another order by Justices R. Natarajan and Tapan Kumar Chakraborty addressed a situation where the applicants were unable to make a payment by the specified date due to circumstances beyond their control. The Court, upon the request of Mr. Kapil Sibal, granted a final opportunity for the payment to be made by 15.12.2018. It was clarified that interest at the rate of 12% per annum would apply for any delay beyond 30.09.2018. The Court emphasized that no further extension beyond 15.12.2018 would be allowed, and the applicant could seek contempt action if the payment was not made. The interlocutory application was disposed of accordingly. Additionally, Civil Appeals were dismissed as per the signed order, with any pending applications also being disposed of.