VINAY PRAKASH SINGH versus SAMEER GEHLAUT & ORS.

VINAY PRAKASH SINGH versus SAMEER GEHLAUT & ORS.

Respondents (Contemnor Nos.1-8, directors of IHFL and IVL, and Contemnor Nos.9,10,12,13, directors of OIL and RHC) knowingly and wilfully disobeyed Supreme Court orders (11.08.2017, 31.08.2017, 15.02.2018, 23.02.2018) and violated solemn undertakings concerning status quo on shareholding in FHL through FHHPL, encumbered/unencumbered shares, and asset transfers to third party entities, thereby committing civil contempt. The Court gave contemnors opportunity to purge contempt by depositing specified sums within eight weeks.

Parties
Petitioner: Vinay Prakash Singh; Respondent: Sameer Gehlaut; Respondent: Malvinder Mohan Singh; Respondent: Shivinder Mohan Singh; Respondent: Oscar Investments Limited; Respondent: RHC Holding Private Limited; Respondent: Fortis Healthcare Holding Private Limited; Respondent: Fortis Healthcare Limited; Respondent: Indiabulls Housing Finance Limited; Respondent: Indiabulls Ventures Limited
Jurisdiction
India
Judgment Date
15 November 2019
Procedural Posture
Contempt Petition (civil) No. 2120 of 2018 in Special Leave Petition (civil) No. 20417 of 2017 / Disposition on Guilt, to Be Heard on Sentence
Outcome
Contemnor Nos.1-8, directors of IHFL and IVL, and Contemnor Nos.9,10,12,13, directors of OIL and RHC, held guilty of committing contempt of Court. To be heard on sentence; directions for opportunity to purge contempt by deposit.
Legal Topics
Civil Contempt, Criminal Contempt, Wilful Disobedience of Court Orders, Undertakings, Shareholding and Asset Transfers, Enforcement of Arbitral Award
Contempt of Court Arbitration Corporate Law Civil Contempt Criminal Contempt Wilful Disobedience of Court Orders Undertakings Shareholding and Asset Transfers +1 more

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Parties

Vinay Prakash Singh

Petitioner

Sameer Gehlaut

Respondent

Malvinder Mohan Singh

Respondent

Shivinder Mohan Singh

Respondent

Oscar Investments Limited

Respondent

RHC Holding Private Limited

Respondent

Fortis Healthcare Holding Private Limited

Respondent

Fortis Healthcare Limited

Respondent

Indiabulls Housing Finance Limited

Respondent

Indiabulls Ventures Limited

Respondent

Procedural Posture

Contempt Petition (civil) No. 2120 of 2018 in Special Leave Petition (civil) No. 20417 of 2017 / Disposition on Guilt, to Be Heard on Sentence

Legal Issues

  1. 1 Whether the respondents wilfully violated orders of the Supreme Court concerning status quo on shareholding and undertakings to court.
  2. 2 Whether asset and share transfers by respondents were in contempt of court, defeating petitioner's rights under arbitral award.
  3. 3 Whether actions constituted civil or criminal contempt.

Ratio Decidendi

Respondents (Contemnor Nos.1-8, directors of IHFL and IVL, and Contemnor Nos.9,10,12,13, directors of OIL and RHC) knowingly and wilfully disobeyed Supreme Court orders (11.08.2017, 31.08.2017, 15.02.2018, 23.02.2018) and violated solemn undertakings concerning status quo on shareholding in FHL through FHHPL, encumbered/unencumbered shares, and asset transfers to third party entities, thereby committing civil contempt. The Court gave contemnors opportunity to purge contempt by depositing specified sums within eight weeks.

Court Disposition

Contemnor Nos.1-8, directors of IHFL and IVL, and Contemnor Nos.9,10,12,13, directors of OIL and RHC, held guilty of committing contempt of Court. To be heard on sentence; directions for opportunity to purge contempt by deposit.

Orders

  • Contemnor Nos.1-8 to purge contempt by depositing value of 12,25,000 shares as on 31.08.2017 in Bombay Stock Exchange within eight weeks.
  • Contemnor Nos.9,10,12,13 to purge contempt by depositing Rs.1170.95 crores each in Supreme Court within eight weeks.