NCLT holds Sandeep Pahadi in civil contempt for wilful disobedience of its order to provide financial data for statutory audit.
The contempt arose from a two-month delay in furnishing a confidentiality undertaking, risking ₹1.33 crore TDS credit and banking facilities.
The Tribunal directs Pahadi to reimburse the company for any financial penalties incurred due to delayed audit and filings.
Pahadi remains responsible for the Nashik Division's operations and statutory compliance until the main demerger petition is finalized.