Delhi High Court Calls For Personal Appearance Of Contemnors For Failure To Make Deposits In Compliance Of Court's Directions

The Petitioners i.e. Landmark group contended that the despite unequivocal directions to deposit certain sums payable under an Award issued vide Order dated 05.01.2022 in an Enforcement Proceeding the Contemnors have deliberately and wilfully disobeyed the Orders of the Court. That vide Order dated 05.01.2022, the Delhi High Court had issued the following directions –

"51… (i) APIL shall deposit, with the Registry of this Court, ₹ 32 crores (₹ 46.01 crores less ₹ 14,90,48,878/-, rounded off) being the differential amount remaining to be deposited, out of the principal amount of ₹ 46.01 crores awarded by the learned arbitrator, within a period of four weeks from today.

(ii) APIL shall further deposit, with the Registry of this Court, an amount of ₹ 34 crores which has been stated by Mr. Sujoy Datta, learned Counsel briefing Ms. Tripathi, on behalf of APIL, to constitute the value of the sale consideration against transfer of the shares held by APIL in AICPL to MIPL. This deposit too, shall be made within a period of four weeks from today.

(iii) On such deposit being made, all orders of stay, granted by this Court, against any immovable properties held by APIL, shall stand lifted. APIL shall be free to deal with its immovable properties.

(iv) APIL shall continue, however, to maintain liquidity in its accounts at least to the extent of ₹ 120 crores.

(v) In the event of default, by APIL, in complying with directions (i) and (ii) above, APIL shall deposit, with the Registry of this Court, an amount of ₹ 200 crores, within a period of eight weeks from today."

The Petitioners referred to the scathing observations of the Delhi High Court in the Order dated 05.01.2022 where the Hon'ble Court had observed that the conduct of the Contemnors was nothing short of challenge to the authority of the Hon'ble Court and Orders passed thereto.

The Delhi High Court was pleased to issue notice to the Contemnors being Mr. Sushil Ansal- Chairman, Pranav Ansal-Vice-Chairman, Mr. Anoop Sethi- CEO and Mr. Prashant Kumar- CFO of APIL and has further directed the abovenamed Contemnors to remain personally present before the Hon'ble Court on the next date of hearing in the matter.

Petitioners were represented by Ms. Ruby Singh Ahuja- Senior Partner, Ms. Manmeet Kaur-Principal Associate, Hancy Maini- Principal Associate, Gurtejpal Singh and Anjali Dwivedi, Associates from Karanjawala & Co.

CCP(O)28/2022

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