NCLAT Dismisses Contempt Petitions Filed Against RCom Chairman Anil Ambani

The NCLAT on Tuesday dismissed contempt petitions filed against Reliance Group Chairman Anil Ambani and other officials by minority shareholders, alleging non-payment of dues by Reliance Infratel. A two-member bench headed by NCLAT Chairman Justice S J Mukhopadhaya dismissed the pleas against Ambani and officials after observing that consent terms agreed upon between RCom and minority shareholders, including HSBC Daisy Investments (Mauritius), for payment of dues can not be a ground for initiation of contempt proceedings.

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“We find that no case is made out for initiation of contempt proceedings against any of the alleged ‘Contemnors’ ‘Respondents’…Both the applications are accordingly dismissed,” the NCLAT said.

The appellate tribunal also said that it has not gone into merit and allowed the appeal to be withdrawn on May 29, 2018, after the minority shareholders and RCom reached a settlement.

The National Company Law Appellate Tribunal (NCLAT) also said although both the parties had reached the final consent terms, there was no undertaking given by any party before “this Appellate Tribunal, nor any direction was issued”.

“On bare perusal of pleadings made in the present petitions, we find that Petitioners filed the Contempt Petitions for execution of their consent terms’, which will be apparent from the fact that companies namely Reliance Communications Infrastructure Limited’; Reliance Infratel Limited’ and RCom, have also been impleaded as contemnors, though it is not maintainable against the companies,” the tribunal said.

Earlier on July 3, the NCLAT had reserved its order, saying that it will decide whether the contempt petitions filed by HSBC Daisy Investments (Mauritius) and others should be admitted as Reliance Communications (RCom) is going through insolvency proceedings.