https://www.taxtmi.com/caselaws?id=407260 A jurisdiction objection by a foreign company and its related functionaries was rejected because the contempt proceedings arose from binding undertakings and NCLAT directions recorded in the context of an Indian-law joint venture. The Tribunal held that prior participation and undertakings prevented the respondents from avoiding compliance on jurisdictional grounds. It further found that termination of the technology, marketing and administrative agreements altered the preserved status quo and breached the undertaking and appellate orders, constituting wilful civil contempt. The termination letters were stayed, obligations existing as on 12 June 2019 were required to be maintained, and punishment was deferred pending further hearing. en-us Tue, 20 Apr 2021 00:00:00 +0530 Wed, 05 May 2021 08:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407260 A jurisdiction objection by a foreign company and its related functionaries was rejected because the contempt proceedings arose from binding undertakings and NCLAT directions recorded in the context of an Indian-law joint venture. The Tribunal held that prior participation and undertakings prevented the respondents from avoiding compliance on jurisdictional grounds. It further found that termination of the technology, marketing and administrative agreements altered the preserved status quo and breached the undertaking and appellate orders, constituting wilful civil contempt. The termination letters were stayed, obligations existing as on 12 June 2019 were required to be maintained, and punishment was deferred pending further hearing. Case-Laws Companies Law Tue, 20 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407260