Contempt Jurisdiction vests with NCLT u/s 425 of Companies Act and not with High Court

S.G. Mittal Enterprises Private Limited Vs Satara Sahakari Bank Ltd. and Others (Bombay High Court) Conclusion: Contempt Petition was not maintainable, as the NCLT had independent and effective jurisdiction under Section 425 of the Companies Act, 2013 to punish for contempt of its own orders, including those passed under the IBC. The Contempt Petition was dismissed at the threshold, with liberty to the Petitioner to pursue any other appropriate remedy available in law. Held:  Petitioner filed a contempt petition before the High Court alleging breach of Consent Terms recorded by the National ...