# In the matter of Venkata Chalam Varanasi vs. Ritesh Agarwal

> NCLAT judgment dated 2026-04-06. Citation: TCN-2026-NCLAT-00084. The Appellant filed an application seeking direction against the Respondent to cooperate with…

- **Court:** NCLAT
- **Order date:** 6 Apr 2026
- **Citation:** TCN-2026-NCLAT-00084
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/venkata-chalam-varanasi-vs-ritesh-agarwal-dae450ee

## Summary

### Background

The Appellant filed an application seeking direction against the Respondent to cooperate with the Appellant/Applicant to furnish the statement of the financial position mandated in terms of Section 129 of the Code to be read with Regulation 12 of IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019.

## Facts

Venkata Chalam Varanasi, the Bankruptcy Trustee, filed a Company Appeal against Mr. Ritesh Agarwal.

The Appellant sought directions against the Respondent to cooperate in furnishing the statement of financial position.

The Appellant filed a Contempt Petition alleging non-compliance with the Adjudicating Authority's order.

The Contempt Petition was filed under Section 425 of the Companies Act and Sections 10 & 12 of the Contempt of Courts Act, 1971.

The Tribunal rejected the application for contempt proceedings.

The Appellant filed an appeal against the rejection order.

The Appellate Tribunal dismissed the appeal, stating it was not maintainable as no punishment was awarded for contempt.

## Issues and analysis

### Issue 1: Whether the appeal against the impugned order is maintainable when no punishment has been awarded …

**Ratio:** Section 19(1) of the Contempt of Courts Act, 1971, envisages appeal only against those

…

**Reasoning:** In the instant case, no punishment has been awarded. Hence, the appeal against such order

…

**Interpretation:** The right to appeal against an order of contempt is limited to cases where

…

**Application:** Since no punishment was awarded in the impugned order, the appeal is not

…

## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Venkata Chalam…
- **Respondents:** Ritesh Ag…
- **Advocates:** Y. Suryana…

## Timeline

- **2025-XX-XX — Application IA (IBC) No…**: Application filed by the Appellant seeking direction against the Respondent to co-operate…
- **2025-06-23 — Order Pa…**: Adjudicating Authority passed an order in IA (IBC) / 950 / 2025, issuing directions to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 129 — Statement of financial position](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-129)

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