- (1.) Contempt Petition (C) No.412/2012 The present proceedings for contempt have a chequered history, but unfortunately like some litigation which have the chequered history due to no fault of the parties but because of circumstances, the present proceedings have such a history which is, if we permit ourselves to say so, the ingenious brain child of the respondent-contemnor. Many an order came to be passed in the contempt proceedings due to the recalcitrant proclivity of the respondent-contemnor who possibly has harboured an adroit idea that he can test the patience of this Court. It has been said long back that the patience itself has its own patience and is not without limitations. The purpose of saying so relates to liberty granted on number of occasions to the respondent-contemnor, Mr. Subrata Roy, to pay the amount by depositing the same in SEBI-Sahara account. Except hyperbolic arguments and rhetoric statements, the amount in entirety has not been paid.
(2.) Mr. Kapil Sibal, learned senior counsel appearing for the respondent-contemnor would submit with all the vehemence as well as humility at his command, that it is the first case where a contemnor has paid the substantial amount which may go up to Rs.16,000 crores, and though approximately Rs.8651 crores is due, that should not be held against him. The submission on a first blush may look attractive, but the proceeding that has been recorded by this Court from time to time will compel one to repel the submission and extinguish the impression gathered on the first blush.
(3.) Having said this, we intend to sit on a time machine, but not for long. Suffice it to refer to some orders which we have passed in the recent past. On 27th April, 2017, this Court, taking note of order dated 17th April, 2017, had passed the following order:- "At this juncture, Mr. Kapil Sibal, learned senior counsel submitted that the petitioner may be granted liberty to send Rs.1500,00,00,000/- (Rupees one thousand five hundred crores only) in the accounts of SEBI Sahara Refund Account through RTGS on or before 15.6.2017. Mr. Arvind Datar, learned senior counsel appearing for the SEBI submitted that he has no objection. If the amount comes to the account by electronic transaction, SEBI shall return the cheque amounting to Rs.1500,00,00,000/- (Rupees one thousand five hundred crore only). "Regard being had to the submissions of the official liquidator and the affidavit that has been filed by the contemnor, we direct that the reserved price for the purpose of auction be fixed at Rs.37,392 Crores. The Official Liquidator shall proceed in accordance with the Rules of procedure and prepare a draft terms and conditions and sale notice and the same shall be filed for our approval on 19.6.2017. The terms and conditions for the auction shall be finalised by Mr. Vinod Sharma, the Official Liquidator in consultation with Mr. Justice B.N. Agarwal, formerly a Judge of this Court. The official liquidator will be at liberty to avail the expertise of an expert for drafting the terms and conditions. The official liquidator shall remain personally present with his team, on the next date of hearing. List the matter at 10.30 a.m. on 19.6.2017. Be it clarified that the matter is directed to e listed on that day to scrutinise the action/steps taken in pursuance of the order passed today.;