{"id":18347,"date":"2012-03-21T10:13:13","date_gmt":"2012-03-21T04:43:13","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=18347"},"modified":"2012-03-21T10:24:22","modified_gmt":"2012-03-21T04:54:22","slug":"fine-on-ifci-jail-for-executives-for-contempt-of-court","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/fine-on-ifci-jail-for-executives-for-contempt-of-court","title":{"rendered":"Fine on IFCI, jail for executives for contempt of court"},"content":{"rendered":"<p><a href=\"https:\/\/www.legalindia.in\/news\/fine-on-ifci-jail-for-executives-for-contempt-of-court\/aa\" rel=\"attachment wp-att-18348\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"18348\" data-permalink=\"https:\/\/www.legalindia.com\/news\/fine-on-ifci-jail-for-executives-for-contempt-of-court\/aa\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/aa.jpg?fit=152%2C152&amp;ssl=1\" data-orig-size=\"152,152\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"aa\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/aa.jpg?fit=152%2C152&amp;ssl=1\" class=\"alignright size-full wp-image-18348\" src=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2012\/03\/aa.jpg?resize=152%2C152&#038;ssl=1\" alt=\"\" width=\"152\" height=\"152\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/aa.jpg?w=152&amp;ssl=1 152w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/aa.jpg?resize=80%2C80&amp;ssl=1 80w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2012\/03\/aa.jpg?resize=150%2C150&amp;ssl=1 150w\" sizes=\"auto, (max-width: 152px) 100vw, 152px\" \/><\/a>The Delhi High Court has sentenced Atul Kumar Rai, the chief executive officer and managing director of IFCI (formerly Industrial Finance Corporation of India), for a month in jail . The court awarded the sentence after it held Rai guilty for contempt of court and defiance of its orders.<\/p>\n<p>The court has also imposed a fine of Rs 5 lakh on IFCI and sentenced its law officer to a month\u2019s imprisonment along with Rai.<\/p>\n<p>\u201cConsidering all the facts and circumstances\u2026..this is a fit case where they must be sent to jail,\u201d Justice PK Bhasin said in his order dated March 19, 2012.<\/p>\n<p>Rai did not respond to calls, messages and e-mail sent by HT.<\/p>\n<p>In his order, Justice Bhasin clearly stated that no leniency would be shown towards contempt.<\/p>\n<p>\u201cThe litigants have started gathering the impression that the moment apology is tendered\u2026the court would melt down and pardon them. That kind of an impression from the minds of the litigating public needs to be washed off,\u201d said Justice Bhasin in his order.<\/p>\n<p>The case and subsequent court orders relate to the winding up of telecommunications firm Koshika Telecom to which IFCI was a creditor. Before the high court\u2019s order to wind up Koshika a DRT (debt recovery tribunal) had already auctioned some of its (Koshika\u2019s) assets and deposited the sales proceeds of R12 crore with IFCI Ltd.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Delhi High Court has sentenced Atul Kumar Rai, the chief executive officer and managing director of IFCI (formerly Industrial Finance Corporation of India), for a month in jail . The court awarded the sentence after it held Rai guilty for contempt of court and defiance of its orders. The court has also imposed a [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[7397,255,7395,7396],"class_list":["post-18347","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-atul-kumar-rai-chief-executive-officer-and-managing-director-of-ifci","tag-delhi-high-court","tag-ifci-formerly-industrial-finance-corporation-of-india","tag-justice-bhasin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fine on IFCI, jail for executives for contempt of court  - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"The Delhi High Court has sentenced Atul Kumar Rai, the chief executive officer and managing director of IFCI (formerly Industrial Finance Corporation of - Get the latest legal news from the Supreme Court, High Courts, and government. 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Holding that no contempt of court is made out against IFCI CEO-cum-MD Atul\u2026","rel":"","context":"In &quot;Criminal Law News&quot;","block_context":{"text":"Criminal Law News","link":"https:\/\/www.legalindia.com\/news\/category\/criminal-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28161,"url":"https:\/\/www.legalindia.com\/news\/compassionate-job-cannot-be-claimed-as-right-hc","url_meta":{"origin":18347,"position":1},"title":"Compassionate job cannot be claimed as right: HC","author":"Legal India Admin","date":"May 6, 2013","format":false,"excerpt":"\"Compassionate employment cannot be claimed as a right after lapse of time and quashed the Central Government Industrial Tribunal's order to give jobs to the relatives of five ex-employees of IFCI,\" held in High Court here in Delhi. Allowing a plea of the Industrial Finance Corporation of India (IFCI) against\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58728,"url":"https:\/\/www.legalindia.com\/news\/sc-refuses-to-interfere-with-order-granting-parole-to-atul-rai-for-taking-oath-as-mp","url_meta":{"origin":18347,"position":2},"title":"SC refuses to interfere with order granting parole to Atul Rai for taking oath as MP","author":"Legal India Admin","date":"February 1, 2020","format":false,"excerpt":"The Supreme Court on Thursday refused to interfere with the Allahabad High Court order, which had granted two-day parole to BSP leader Atul Rai for taking oath as Member of Parliament in New Delhi. Rai, who had won the 2019 Lok Sabha polls on a BSP ticket from Ghosi parliamentary\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/02\/granting-parole-to-Atul-Rai.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":56221,"url":"https:\/\/www.legalindia.com\/news\/supreme-court-refuses-to-grant-protection-from-arrest-to-newly-elected-bsp-mp-atul-rai","url_meta":{"origin":18347,"position":3},"title":"Supreme Court refuses to grant protection from arrest to newly elected BSP MP Atul Rai","author":"Legal India Admin","date":"May 28, 2019","format":false,"excerpt":"New Delhi : The Supreme Court on Monday refused to grant protection from arrest to newly elected BSP MP from Ghosi Lok Sabha constituency in Uttar Pradesh, Atul Rai, accused of raping a college student from Varanasi. A vacation bench of Chief Justice Ranjan Gogoi and Justice Aniruddha Bose said\u2026","rel":"","context":"In &quot;Court, Judiciary &amp; Legal System&quot;","block_context":{"text":"Court, Judiciary &amp; Legal System","link":"https:\/\/www.legalindia.com\/news\/category\/court-judiciary-legal-system"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/05\/download-2019-05-28T171644.667.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":49408,"url":"https:\/\/www.legalindia.com\/news\/delhi-hc-extends-bail-2008-bmw-hit-n-run-convict-utsav-bhasin","url_meta":{"origin":18347,"position":4},"title":"Delhi HC extends bail of 2008 BMW hit-n-run convict Utsav Bhasin","author":"Legal India Admin","date":"August 10, 2017","format":false,"excerpt":"The Delhi High Court today extended till August 23 the bail granted to the 2008 BMW hit- and-run convict Utsav Bhasin by a sessions court. Justice Sangita Dhingra Sehgal extended the relief after the convict informed the court that the bail granted to him by the trial court is expiring\u2026","rel":"","context":"In &quot;Criminal Law News&quot;","block_context":{"text":"Criminal Law News","link":"https:\/\/www.legalindia.com\/news\/category\/criminal-law-news"},"img":{"alt_text":"Delhi HC extends bail of 2008 BMW hit-n-run convict Utsav Bhasin","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/06\/delhi-high-court-300x166.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":39594,"url":"https:\/\/www.legalindia.com\/news\/youth-gets-7-yrs-in-jail-for-raping-delhi-police-employee","url_meta":{"origin":18347,"position":5},"title":"Youth gets 7 yrs in jail for raping Delhi Police employee","author":"Legal India News","date":"October 26, 2015","format":false,"excerpt":"A 26-year-old youth who repeatedly raped a woman employee of Delhi Police on a false promise of marrying her has been sent to seven years rigorous imprisonment by a court here which relied on the victim's testimony despite her turning hostile in cross-examination. \"Though prosecutrix, during her cross-examination, resiled and\u2026","rel":"","context":"In &quot;Criminal Law News&quot;","block_context":{"text":"Criminal Law News","link":"https:\/\/www.legalindia.com\/news\/category\/criminal-law-news"},"img":{"alt_text":"Youth gets 7 yrs in jail for raping Delhi Police employee","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2015\/05\/marital-rape.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-4LV","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/18347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=18347"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/18347\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=18347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=18347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=18347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}