Hon'ble Dr. Dhananjaya Yeshwant Chandrachud, C.J.—This special appeal has been filed against an order dated 29 April 2015 passed by a learned Single Judge. The learned Single Judge rejected an objection to the maintainability of contempt proceedings initiated by the first, second and third respondents. The breach alleged was of an order passed by a Division Bench in a company appeal, recording the terms of a settlement entered into in pursuance of mediation proceedings which took place before the Mediation and Conciliation Centre of this Court at Lucknow.

2. On 8 August 2012, a reference was made to the Board for Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provision) Act, 1985 (SICA). The reference was registered on 3 December 2012. The company in respect of which the reference was registered is J R Organics Ltd of which the appellants as well as the third and fourth respondents are Directors. The reference, admittedly, was registered at the behest of the appellants. Winding up proceedings had been instituted against the company by Balrampur Chini Mills Ltd. (Company Petition No. 3 of 2010). An order was passed by a learned Si