https://www.taxtmi.com/caselaws?id=111293 An undertaking given to secure a repayment scheme remained enforceable despite a later claim of resignation or change in management, and wilful breach of that undertaking was treated as contempt. The Company Law Board was treated as subordinate to the High Court for contempt purposes because it exercised judicial functions with powers akin to a civil court and its orders were appealable to the High Court. Continuing default under the repayment schedule also defeated the limitation objection. Liability for contempt was found for the respondents who had obtained the benefit of the scheme and then failed to comply, while a respondent with no role in the undertaking was discharged. en-us Fri, 03 Aug 2007 00:00:00 +0530 Wed, 31 Dec 2014 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111293 An undertaking given to secure a repayment scheme remained enforceable despite a later claim of resignation or change in management, and wilful breach of that undertaking was treated as contempt. The Company Law Board was treated as subordinate to the High Court for contempt purposes because it exercised judicial functions with powers akin to a civil court and its orders were appealable to the High Court. Continuing default under the repayment schedule also defeated the limitation objection. Liability for contempt was found for the respondents who had obtained the benefit of the scheme and then failed to comply, while a respondent with no role in the undertaking was discharged. Case-Laws Companies Law Fri, 03 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111293