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Finolex Cables matter: SC's contempt notice to NCLAT members, these comments regarding the tribunal
The Supreme Court on Wednesday issued notice to Judicial Member Rakesh Kumar and Technical Member Alok Srivastava of the National Company Law Appellate Tribunal. The court asked him why contempt proceedings should not be initiated against him for disobeying the apex court's orders in the Finolex Cables controversy case. The CJI bench has taken strong objection to the passing of a judgment by the NCLAT bench.
The Supreme Court on Wednesday issued notice to Judicial Member Rakesh Kumar and Technical Member Alok Srivastava of the National Company Law Appellate Tribunal. The court asked him why contempt proceedings should not be initiated against him for disobeying the orders of the apex court in the 'Finolex cables controversy case.
A bench headed by Chief Justice DY Chandrachud has taken strong objection to the passing of a judgment by the NCLAT bench. The top court set aside the October 13 judgment of the NCLAT bench related to the annual general meeting (AGM) of Finolex Cables without considering its merits.
The bench also included Justice JB Pardiwala and Justice Manoj Mishra. During this, he said that the case would be heard by NCLAT Chief Justice Ashok Bhushan. Making a strong comment, the court said that NCLAT has now reached a stage of decay. This case is an example of that rot. We prima facie believe that the members of NCLAT have failed to disclose the true facts.
