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2007 (10) TMI 394 - SC - Companies LawContempt of court - Held that:- Contempt petition is allowed. Keeping in view the peculiar facts and circumstances of this case and the conduct of the alleged contemnors, are of the opinion that they have committed contempt of this court. We are clearly of the opinion that. It is eminently a fit case where jurisdiction of this court under article 129 of the Constitution of India as also the provisions of the Contempt of Courts Act, 1971, should be invoked. However, the fact that the alleged contemnor No. 3 has resigned, being not in dispute, no action is being taken against him. So far as, the alleged contemnor No. 1 is concerned he being the managing director of the company, is liable to be punished. He is sentenced to undergo six months imprisonment. The alleged contemnor No. 2 is also held guilty but as he was not the managing director, sentencing him three months imprisonment shall meet the ends of justice.
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