2022 (2) TMI 1437 - SCH - Companies Law

Exercise of jurisdiction under Article 136 of the Constitution against the decision of the High Court - HELD THAT - Since directions have been issued by this Court in the order dated 12 July 2021 for expeditious disposal of the appeals before the High Court it is not appropriate for the Court to entertain the Special Leave Petitions at the present stage. However it is clarified that the APL Committee would be at liberty to seek such substantive reliefs as may be necessitated to ensure its effective functioning. SLP disposed off.

Summary

Issues:
1. Permission to file Special Leave Petitions granted.
2. Clarification on the previous order regarding expeditious disposal of appeals before the High Court.
3. Relying on an email by VTL raising contentions based on the impugned order of the Division Bench.
4. APL Committee's liberty to seek substantive reliefs for effective functioning.
5. Disposal of Special Leave Petitions subject to clarification.
6. Disposal of pending applications.

Analysis:

1. The Supreme Court granted permission to file the Special Leave Petitions, allowing the parties to proceed with their appeals before the Court.

2. The Court reiterated its previous order dated 12 July 2021, where it declined to exercise jurisdiction under Article 136 of the Constitution against the decision of the High Court. The High Court was requested to expedite the appeals and conclude the proceedings by 31 March 2022. It was emphasized that the High Court should not feel bound by any observations made during the contempt jurisdiction determination.

3. Mr. C A Sundaram, senior counsel for the petitioner, referred to an email from VTL dated 3 May 2021, which raised contentions based on the impugned order of the Division Bench. This reference was made in the context of the ongoing proceedings.

4. The Court clarified that since directions were already given for expeditious disposal of the appeals before the High Court, it would not be appropriate to entertain the Special Leave Petitions at the current stage. However, the APL Committee was granted the freedom to seek necessary reliefs to ensure its effective functioning. The Court reiterated that previous observations made regarding contempt jurisdiction would not impact the appeals' disposal.

5. The Special Leave Petitions were disposed of, subject to the clarification provided by the Court regarding the APL Committee's rights and the non-binding nature of previous observations on contempt jurisdiction.

6. Any pending applications were also disposed of as part of the overall judgment, ensuring all related matters were addressed comprehensively.