JUDGMENT :

M.R. SHAH, J.

1. The present contempt petition has been filed by the petitioner herein – Urban Infrastructure Real Estate Fund – the Award Creditor in whose favour there is an award passed by the learned Arbitrator to punish the respondents under the Contempt of Courts Act, 1971 for wilful disobedience of the order dated 17.09.2021 passed by this Court in Special Leave Petition (C) No. 14724 of 2021 and the subsequent order dated 28.10.2021 passed in Miscellaneous Application No. 1668 of 2021 in the very same Special Leave Petition (C) No. 14724 of 2021.

2. Before considering the submissions made by learned senior counsel appearing on behalf of the respective parties, the chronological dates and events leading up to the filing of this contempt petition are required to be referred to and considered, which are as under:-

2.1 That by Arbitral Award dated 30.08.2018 passed in arbitral proceedings filed by the petitioner herein against the respondents alleged contemnors, the learned Arbitrator awarded specific performance of the Share Purchase Agreement and held that the petitioner is entitled to recover an amount of Rs. 78,33,37,500/- with interest at the rate of 18% p.a. with e