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2025 Supreme(Online)(SC) 9924

SUPREME COURT OF INDIA
J.B. PARDIWALA, K.V. VISWANATHAN, JJ
S. Sathish Kumar & Ors. – Appellant
Versus
Sandeep Jain & Ors. – Respondent


Advocates:
For the Appellants/Petitioners: Mr. Devadatt Kamat, Mr. Rajesh Gulab Inamdar, Mr. Revanta Solanki, Mr. Ajay Desai
For the Respondents: Mr. A.N.S. Nadkarni, Mr. Mahesh Agarwal, Mr. Sandeep Singhi, Mr. Arshit Anand, Ms. Vidisha Swarup, Mr. M.a. Kartik, Ms. Ninni S. Thomas, Ms. Megha Khanna, Ms. Palak Bhagat, Mr. E. C. Agrawala

Table of Content
1. contempt petition filed regarding status quo violations. (Para 1 , 2)
2. arguments on the state of contempt and operational status. (Para 3 , 4)
3. details about the resolution plan and nclat hearing. (Para 5)
4. court observations on the appeal pending before nclat. (Para 6)

O R D E R

10:29:06 IST Reason:

2 The appeal arises from an order dated 6 September 2024 of the National Company Law Appellate Tribunal1

4 By the impugned order dated 6 September 2024, the NCLAT has issued the following directions:

5 Mr Mukul Rohatgi, senior counsel for the appellants submitted that the Committee of Creditors approved the Resolution Plan by a 97% vote on 22 November 2023. The plan was approved by the National Company Law Tribunal on 30 August 2024. According to the appellants, on 31 August 2024, an amount of Rs 3335 crores has been paid to sixteen lenders and possession was taken.

7 During the course of the hearing, reliance has been placed on relevant provisions of the Expression of Interest (EoI) and the Request for

8 The first part of the above direction indicates that the status quo ante would have to be restored, while the second part of the above direction seems to indicate that

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