In Brief
Kotak Mahindra Bank (KMBL) filed a contempt petition against Sanjiv Gupta and others regarding alleged non-compliance with court orders in SARFAESI-related proceedings. The Supreme Court declined to initiate contempt action, noting that the parties had complied by depositing the required amount following the Court's earlier order. The Court directed that the deposited amount be paid to KMBL with accrued interest, but made this subject to the High Court's determination of the actual amount due. If the High Court finds a lesser amount is due, KMBL must refund the excess with interest. The contempt petitions were disposed on these terms.
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