The Supreme Court issued a contempt notice against members of the National Company Law Appellate Tribunal (NCLAT) on October 18 for willful defiance of the top court’s directions in the Finolex Cable case.

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The apex court held that the manner in which NCLAT proceeded to deliver the judgment in the matter is in defiance of the Supreme Court order and is unbecoming of a judicial tribunal.

The Supreme Court has directed members of NCLAT to physically appear before it to show cause why it should not proceed to initiate action against them for contempt of court.

The top court is prima facie of the view that the NCLAT members are liable to be proceeded against under contempt of court and that it is necessary to pass orders to ensure dignity of the court.

All about the Finolex Cable case

NCLAT Suspends Its Oct 13 Order Following SC’s Direction

NCLAT Order Will Be Subject To Direction From Supreme Court

Alert: Deepak Chhabria’s Reappointment As Finolex Cable Exec Chmn Was Subject To NCLAT Order

October 11

-Orbit Electricals got SC nod to vote at co's AGM on Sep 29

-AGM was to consider re-appointment of Exec Chmn, Deepak Chhabria as Whole-Time Director

-Co did not disclose the results of resolution of re-appointment of Deepak Chhabria

- exactly what Orbit electrical (Prakash chhabria) is challenging in court

September 28

FINOLEX CABLES AGM: PROMOTER TUSSLE?

Cousins Prakash Chhabria and Dilip Chhabria may square off at AGM tomorrow

Prakash Chhabria controlled Orbit Electricals got SC nod to vote at AGM: Financial Express

Alert: Orbit Electricals owns 30.75% of promoter stake of 35.92%

Alert: Deepak Chhabria is current Executive Chairman

Alert: Deepak had sought to prevent Prakash from voting at AGM

FINOLEX CABLES: THE KEY RESOLUTION

AGM to consider reappointment of Executive Chairman, Deepak Chhabria

Action on this resolution will be in abeyance till NCLAT’s final order

First Published:Oct 18, 2023 3:11 PM IST