Supreme Court Issues Contempt of Court Notice against two NCLAT Members

The Supreme Court (SC) has issued Contempt of Court Notice (Notice) against two members of the National Company Law Appellate Tribunal (NCLAT) and asked them to be physically present before the SC. The Notice was issued because the two members defied the order of the SC, to not pass an order till results of the Annual General Meeting of Finolex Cables were submitted in the form of a report by the scrutinizer. The SC, further, stated that “NCLT and NCLAT have gone down to a rot. This case is an object illustration of the rot.”