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2019 (9) TMI 958 - SC - Indian LawsContempt Petition - the alleged contemnors have violated the order of this court dated 07.05.2012 - proceedings u/s 13 of SARFAESI Act, 2002 - recovery of amount on sale of properties - HELD THAT:- We cannot appreciate the conduct of Alchemist and its officers. Both the High Court and this Court had clearly directed that out of the amount recovered by sale of the properties of the borrowed Company by Alchemist, ₹ 4.5 crores were to be paid to KMBL, and ₹ 9 crores were to be retained by Alchemist. Any amount in excess was to be deposited in Court. Though liberty was given to Alchemist on 02.07.2014 to approach the High Court, such application was filed only in February, 2017. There is no explanation as to why such application was not filed for three years. It is obvious that this application was filed only after the sale certificate was issued and KMBL sent various communication to Alchemist to pay a sum of ₹ 4.5 crores to it. Having held so, we are of the view that it may not be necessary to take action against the alleged contemnors under the Contempt of Courts Act, in view of the fact that pursuant to the order of this Court they have now deposited ₹ 4.5 crores. The amount of ₹ 4.5 crores deposited by Alchemist shall be paid to KMBL along with interest, if any, accrued thereupon - contempt petition closed.
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