The Supreme Court has issued a contempt of court notice to a senior SBI official for failing to comply with its order to offer a One Time Settlement (OTS) to a Himachal Pradesh business firm operating from Chandigarh with regard to adjustment of subsidy amount towards repayment of interest and instalments of loan.
A Bench led by Justice Vikram Nath asked the of SBI Managing Director, Risk Compliance & Stressed Assets Resolution Group, Nariman Point, Mumbai and SBI Ludhiana Deputy General Manager Pradeep Pandhi to be present before it on August 20 for framing of charges against them for his failure to comply with its September 30, 2021 order.
Prima facie, we are satisfied that a case for contempt is made out. Issue notice to alleged contemnor/respondent No. 2, i.e. Mr. Swaminathan J, Managing Director, Risk Compliance & Stressed Assets Resolution Group, State Bank of India. List this case on 20.08.2024 for framing of charges,” the Bench – which also included Justice PB Varale – said in its August 6 order.
The Bench, however, clarified that “if the alleged contemnor(s)/ respondent(s), who are presently named in the contempt petition, are not holding the said post(s), in that case, the person(s) holding the said post(s) presently will remain present in the Court on 20.08.2024.”