Delay in filing Restoration Application in Contempt Proceedings condoned by NCLAT

Shakti Bhushan Vs Titan Industries Ltd (NCLAT Chennai) NCLAT Chennai held that delay in filing Restoration Application in the Contempt Proceedings deserves to be condoned since the reasons given for delay appears to be reasonable. Accordingly, delay of 374 days condoned. Facts- The appellants had initiated a proceeding under Section 108 of the Companies Act of 1956. The Appellant had prayed for a grant of a decree of permanent injunction, in favour of the Plaintiff/Appellants, as against the Respondent/Defendant, thereby restraining them from transferring 400 shares. The Appellants also sough...