NCLT Dismisses Contempt Plea Against Baldva Textiles Directors

NCLT dismisses contempt plea against Baldva Textiles directors for non-compliance with a repayment order, citing the applicant's lack of locus standi.
The Tribunal held the erstwhile resolution professional lacked authorization to file the contempt petition on behalf of the corporate debtor.
The NCLT noted the respondents had initiated personal insolvency, and contempt jurisdiction cannot be used for debt recovery.