Case Note & Summary
The matter before the National Company Law Appellate Tribunal involved a contempt application filed by the Corporate Tower Association against the Resolution Professional of SRS Real Infrastructure Ltd. The Tribunal had previously issued an order on 20/01/2026, directing the appellants to pursue an application before the Adjudicating Authority regarding IA(I.B.C.) 845 (CH) of 2023, with further steps to be taken only after its disposal. However, the appellants received an email on 25/03/2026 from the Resolution Professional, referencing an oral direction from the NCLT, Chandigarh, which led to the issuance of an Expression of Interest for the SRS Tower project. The Tribunal noted that it was unaware of any such oral directions and advised the Applicant to formally approach the Adjudicating Authority for clarification regarding compliance with the Tribunal's order. Consequently, the contempt application was disposed of, with directions for the Applicant to seek appropriate remedies in accordance with the law.
Headnote
A) Contempt of Court - Violation of Tribunal Order - Actions of Resolution Professional - Insolvency and Bankruptcy Code, 2016, Section Not mentioned - The Tribunal addressed the issue of the Resolution Professional issuing an Expression of Interest contrary to its prior order, emphasizing the need for adherence to judicial directions. The Tribunal directed the Applicant to seek clarification from the Adjudicating Authority regarding the alleged oral directions and to ensure compliance with the existing order. Held that the contempt application was disposed of accordingly (Paras 1-4).
Issue of Consideration
Whether the actions of the Resolution Professional violated the prior order of the Tribunal.
Final Decision
The Tribunal disposed of the contempt application, directing the Applicant to seek clarification from the Adjudicating Authority regarding compliance with the Tribunal's order.
Law Points
- Contempt of court
- Adjudicating Authority
- Expression of Interest
- Insolvency and Bankruptcy Code
