# In the matter of Savute Textiles Private Limited

> NCLT judgment dated 2026-04-06. Citation: TCN-2026-NCLT-00320. A contempt petition was filed by a major shareholder of M/s Savute Textiles Private Limited…

- **Court:** NCLT
- **Order date:** 6 Apr 2026
- **Citation:** TCN-2026-NCLT-00320
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/savute-textiles-private-limited-58d9490d

## Summary

### Background

A contempt petition was filed by a major shareholder of M/s Savute Textiles Private Limited against its suspended directors and related parties for allegedly violating an order dated 25.04.2024, which directed restoration of assets and payment of specified amounts to the Corporate Debtor.

## Facts

The Corporate Insolvency Resolution Process was initiated against M/s Savute Textiles Private Limited on 11.03.2022.

The Resolution Professional identified fraudulent transactions by the suspended directors, including unauthorized transfer of assets and siphoning of funds.

An application under Section 66 of the Insolvency and Bankruptcy Code, 2016 was filed.

The Adjudicating Authority declared the Business Transfer Agreement null and void and directed restoration of assets and payment of specified amounts to the Corporate Debtor on 25.04.2024.

The order dated 25.04.2024 was challenged before the Hon'ble High Court of Kerala, which dismissed the writ petitions.

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## Issues and analysis

### Issue 1: Whether mere non-compliance with the directions of the Adjudicating Authority constitutes civil …

**Ratio:** Mere non-payment of an amount directed to be paid by an order of the Adjudicating

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**Reasoning:** There may be several reasons for such non-payment, and it cannot be automatically

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**Interpretation:** Civil contempt requires wilful disobedience of any judgment, decree, direction,

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**Application:** In this case, the Adjudicating Authority found that the non-compliance did not

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## Parties

- **Judges:** Vinay…
- **Appellants:** Satish Gopalakrish…
- **Respondents:** Savute Textiles…; Vinesan Gop…; +3 more
- **Advocates:** Joseph Kodi…; Shameem A…

## Timeline

- **09.10.2025 — Date of Inst…**: Date of Institution of…
- **06.04.2026 — Order deliv…**: Order delivered on the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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