New Delhi [India], October 18 (ANI): The Supreme Court on Wednesday asked National Company Law Appellate Tribunal (NCLAT) judicial member Rakesh Kumar and technical member Alok Srivastava to show cause why contempt of court proceedings be not initiated against them for delivering a judgement and breaching Apex court order.

A bench headed by Chief Justice of India DY Chandrachud observed that a rot seems to have set in NCLAT.

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The top court said that the manner in which NCLAT has proceeded defying SC's order is unbecoming of a judicial tribunal.

The court asked the members to appear before it on October 30 and set aside the NCLAT bench's October 13 judgment relating to Finolex Cable AGM.

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The CJI Chandrachud condemned NCLAT for defying its order. The top court however clarified that it is not talking about NCLAT Chairperson Justice Ashok Bhushan.

The court said that Justice Bhusan is one of the most dignified judges. The court noted that NCLAT chairperson Justice Ashok Bhushan has submitted the report to the top court, which alludes to separate statements by other judges.

The top court noted that on October 13 has passed an order directing NCLAT to defer its order on the Finolex Cable AGM matter.

The top court noted that despite this, the NCLAT bench proceeded with its order. The bench said that the judgement of this court was defeated by the order of the NCLAT.

The top court said that the NCLAT's order creates an impression that the bench of the tribunal was aware of the top court decision and called it prima facie a falsehood.

The top court said that it is prima facie of the view that NCLAT members have failed to disclose correct facts to the NCLAT chairperson who was undertaking the inquiry. The court also expressed serious doubts over the honesty of the matter. (ANI)

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