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2021 (12) TMI 1396 - SC - Indian LawsContempt proceedings - disobedience of the order passed by this Court - suppression of material facts - It appears that though eight Suits filed by one Hero Cycles Limited were pending and still the same was not disclosed before this Court - applicability of provisions of the Contempt of Courts Act - HELD THAT:- On considering the fact that Respondent No.1 has agreed that on deposit of the entire balance sale consideration of Rs. 8,35,00,000/- by the petitioners herein - original plaintiffs which may be deposited with the Commercial Court, Ludhiana and the Respondent No.1 may not be permitted to withdraw the same till the outcome of the aforesaid Suits and subject to the ultimate outcome of the aforesaid Suits and on such deposit, the respondent(s) shall execute the Sale Deed in favour of the petitioners - original plaintiffs and handover peaceful and vacant possession. It is reported that respondent is personally present in the Court and the aforesaid statement is made in his presence and he has also agreed to the aforesaid and the order which is being passed. The Commercial Court, Ludhiana are directed to invest the aforesaid amount to be deposited by the petitioners, as observed herein above, in the name of the Respondent No.1 herein – original Defendant Nos. 2 & 3 in a Fixed Deposit in any nationalized Bank and the same shall be appropriated subject to the ultimate outcome of the aforesaid Commercial Suits. If the aforesaid Suits are decreed in favour of the original plaintiffs - Hero Cycles Limited and in case the Commercial Court holds in favour of the respondent No.1 herein, in that case, subject to the order that may be passed by the DRT-II Chandigarh, if any, the said amount be paid to the Respondent No.1. The Respondent No.1 herein and the learned counsel appearing on behalf of the Respondent No.1 has handed over the original Title Deeds/documents in favour of the Respondent No.1 to the learned counsel appearing on behalf of the petitioners and the learned counsel appearing on behalf of the petitioners are satisfied with respect to the title of the Respondent No.1 and has stated at the Bar that they have no objection if the Sale Deed is executed by the Respondent No.1 on the basis of the Title Deeds/documents mentioned in the file and that they are satisfied with the title of the Respondent No.1 - present proceedings are closed. Petition disposed off.
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