STATE BANK OF INDIA AND ORS. versus KINGFISHER AIRLINES LTD. AND ORS.

STATE BANK OF INDIA AND ORS. versus KINGFISHER AIRLINES LTD. AND ORS.

Respondent No.3 was found guilty of contempt for failing to make true and complete disclosure of assets as directed by the Supreme Court and for violating clear restraint orders of the High Court by transferring US$40 million received into trusts/children's accounts outside the reach of recovery and court process.

Source-derived case information.

Parties
Petitioner: State Bank of India and others; Respondent: Kingfisher Airlines Ltd. and others
Jurisdiction
India
Judgment Date
09 May 2017
Procedural Posture
Special Leave Petition (civil) / Interlocutory Application in Contempt Petition, Finding of Guilt on Contempt, Proceeding Adjourned for Hearing on Punishment
Outcome
Respondent No.3 found guilty of contempt of court; proceedings adjourned for hearing on proposed punishment.
Legal Topics
Recovery of Bank Loans, Debt Recovery Tribunal Procedures, Disclosure of Assets, Contempt Jurisdiction, Violations of Court Restraining Orders
Banking Law Civil Procedure Contempt of Court Recovery of Bank Loans Debt Recovery Tribunal Procedures Disclosure of Assets Contempt Jurisdiction Violations of Court Restraining Orders

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Legal principles 3 Authorities cited 4 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

State Bank of India and others

Petitioner

Kingfisher Airlines Ltd. and others

Respondent

Procedural Posture

Special Leave Petition (civil) / Interlocutory Application in Contempt Petition, Finding of Guilt on Contempt, Proceeding Adjourned for Hearing on Punishment

Legal Issues

  1. 1 Whether Respondent No.3 is guilty of contempt for (a) failure to disclose assets as ordered by the Supreme Court and (b) violation of High Court restraint orders by transferring US$40 million received to his children/trusts

Ratio Decidendi

Respondent No.3 was found guilty of contempt for failing to make true and complete disclosure of assets as directed by the Supreme Court and for violating clear restraint orders of the High Court by transferring US$40 million received into trusts/children's accounts outside the reach of recovery and court process.

Court Disposition

Respondent No.3 found guilty of contempt of court; proceedings adjourned for hearing on proposed punishment.

Orders

  • Respondent No.3 directed to appear in person for hearing on punishment.
  • Ministry of Home Affairs, Government of India, directed to secure and ensure Respondent No.3's presence before the Court.