In Brief
Baranagore Jute Factory, a company embroiled in management disputes for three decades, faced contempt allegations for allegedly violating Supreme Court orders regarding fixed deposits and bank account operations. While the respondents' conduct was deemed ungraceful and demonstrated attempts to circumvent court orders, the Court found no willful or deliberate violation warranting contempt proceedings. The Bank Manager's unauthorised transaction was reversed immediately with unconditional apology, exempting him from liability. The Court accepted the respondents' apology, imposed costs, and directed the underlying Company Petition be expeditiously disposed within four months with strict adjournment penalties. A fixed deposit of Rs. 10.55 crores was placed with the Court Registrar pending final disposal.
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