1. By this order I shall dispose of this application for Contempt of the Court made by the petitioner against the respondent/contemnor on the ground that the respondent deliberately did not comply with the order of the Court dated 2nd April, 2007.

2. There was an admission made by the respondent about a sum of Rs.18,38,75,000/- having received as a loan and not paid back. This Court vide order dated 2nd April 2007 directed respondent/contemnor to furnish an unconditional bank guarantee in favour of the Registrar General of this Court to the extent of admitted amount within a period of 30 days. The respondent failed to furnish the bank guarantee hence the applicant filed present contempt petition against the respondent/contemnor. In the affidavit of reply to the petition, the proposed contemnor has submitted that the contemnor has not committed any willful disobedience of the order or direction of the Court. It is stated that for issuance of the bank guarantee of Rs.18.38 crores, 100% cash margin, i.e., of Rs.18.38 crores was required by the bank or in alternative cash margin of 25% and property worth 150% of the value of the bank guarantee was required. The respon