https://www.taxtmi.com/caselaws?id=404559 The Supreme Court dismissed the Contempt Petition against Deccan Value Investors LP (DVI) for violating a court order related to an insolvency resolution plan. Although DVI's conduct was deemed contumacious, the Court refrained from invoking contempt jurisdiction. DVI was prohibited from pleading force majeure in the pending appeal before the NCLAT. Additionally, DVI's application for rectification of the court order was dismissed as an attempt to renegotiate commitments and was reaffirmed by the Court. The NCLAT was directed to expedite the disposal of DVI's appeal within one month. en-us Tue, 23 Feb 2021 00:00:00 +0530 Thu, 25 Feb 2021 09:11:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404559 The Supreme Court dismissed the Contempt Petition against Deccan Value Investors LP (DVI) for violating a court order related to an insolvency resolution plan. Although DVI's conduct was deemed contumacious, the Court refrained from invoking contempt jurisdiction. DVI was prohibited from pleading force majeure in the pending appeal before the NCLAT. Additionally, DVI's application for rectification of the court order was dismissed as an attempt to renegotiate commitments and was reaffirmed by the Court. The NCLAT was directed to expedite the disposal of DVI's appeal within one month. Case-Laws Insolvency and Bankruptcy Tue, 23 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404559