# R. Raghavendran, Liquidator vs. K. Paramasivam, Suspended Managing Director

> NCLT judgment dated 2026-09-01. Citation: TCN-2026-NCLT-01000. The Liquidator, R. Raghavendran, filed a Contempt Petition against K. Paramasivam, the…

- **Court:** NCLT
- **Order date:** 1 Sept 2026
- **Citation:** TCN-2026-NCLT-01000
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/k-paramasivam-vs-sri-maharaja-oil-imports-exports-india-p-ltd-0a7zf

## Summary

### Background

The Liquidator, R. Raghavendran, filed a Contempt Petition against K. Paramasivam, the suspended Managing Director of Sri Maharaja Oil Imports & Exports India (P) Ltd., for alleged non-compliance with an NCLT order dated 24.01.2025 (corrected on 31.01.2025). This order directed Mr. Paramasivam to pay Rs. 12,20,99,683/- to the liquidation estate within 45 days for related party transactions. The original Corporate Insolvency Resolution Process (CIRP) was initiated by State Bank of India against the Corporate Debtor. Mr. Paramasivam preferred an appeal against the payment order before the NCLAT, which was numbered but, according to the applicant, had not granted a stay.

## Facts

The Liquidator filed a Contempt Petition against Mr. K. Paramasivam, suspended Managing Director of the Corporate Debtor.

The Contempt Petition seeks a declaration of civil contempt, enforcement of an order under the Contempt of Courts Act, 1971, and other appropriate orders.

The Company Petition CP/531/(IB)/CB/2017 was filed by State Bank of India against Sri Maharaja Oil Imports and Exports India (P) Ltd. for Corporate Insolvency Resolution Process (CIRP).

The CIRP petition was admitted on 04.08.2017, and the Applicant (R. Raghavendran) was appointed as Interim Resolution Professional (IRP).

The Applicant subsequently became the Resolution Professional (RP) as resolved during the First CoC Meeting on 07.09.2017 by the Sole CoC Member, State Bank of India.

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## Issues and analysis

### Issue 1: Whether the acts of respondent amount to civil contempt vis-a-vis the tribunal's order dated …

**Ratio:** Civil contempt, as defined under Section 2(b) of the Contempt of Courts Act, 1971,

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**Reasoning:** The respondent, Mr. K. Paramasivam, had preferred an appeal against the Tribunal's order

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**Interpretation:** The interpretation of 'civil contempt' emphasizes the mental element of

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**Application:** Given the pending appeal before the NCLAT and the respondent's plea of

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** K. Parama…; R. Raghav…
- **Respondents:** Maharaja Oil…; K. Paramasivam,…
- **Other parties:** State Bank of…
- **Advocates:** B. Dhan…; P.J. Sri…; +2 more

## Timeline

- **2017-08-04 — CIRP Petition…**: The Company Petition CP/531/(IB)/CB/2017 filed by State Bank of India against Sri…
- **2017-09-07 — Resolution Professional…**: During the First CoC Meeting, the Applicant (R. Raghavendran) became the Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 2(b) — Application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-2)

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