Allahabad High Court
Punjab National Bank,Branch Pnb ... vs Sri Y.K.Jhunjhunwala & 3 Ors. on 5 January, 2010
Author: Satyendra Singh Chauhan
Bench: Satyendra Singh Chauhan
Court No. - 22 Case :- CONTEMPT No. - 2978 of 2009 Petitioner :- Punjab National Bank,Branch Pnb House,Sir Pm Road Fort Respondent :- Sri Y.K.Jhunjhunwala & 3 Ors. Petitioner Counsel :- Amit Chandra Hon'ble Satyendra Singh Chauhan,J.
Heard learned counsel for the petitioner.
Submission of learned counsel for the petitioner is that vide interim order dated 27.5.2009 a conditional permission was given to the Bank to sell the assets of the company subject to the aforesaid condition the permission was granted by the Bank. The Bank granted permission with the stipulation that purchaser will deposit the entire purchase price directly with the Bank, but in spite of the aforesaid rider placed by the Bank the money has not been deposited with the Bank although it has been received by the opposite party no.1 vide Annexure S-1 at page 21 of the paper book. He further submits that an amount of Rs.one crore and fifty lacs has been received, but the same has not been remitted to the Bank and, therefore, opposite party no.1 has, prima facie, committed contempt of this Court by violating the interim order passed by this court deliberately and intentionally.
Opposite party no.1 as stated is the Managing Director of the J.R. Organics Limited, therefore, at the moment notice is being issued to opposite party no.1 i.e. Sri Y.K. Jhunjhunwala for appearing before this Court on 28.1.2010.
Let notice be issued to opposite party no.1 for appearance before this Court on 28.1.2010.
Lit on 28.1.2010.
Counsel for the petitioner is directed to take steps within three days.
Order Date :- 5.1.2010 Rao/-