SC: Director's conduct of breaching an undertaking given to CLB to repay depositors was Contempt of

CL : Where pursuant to order of CLB respondent-director of finance company gave an undertaking to repay depositors but wilfully disobeyed order of CLB and breached undertaking given to CLB, respondent committed Contempt of Court subordinate to High Court and Division Bench of High Court erred in law in holding that he was not guilty of wilful disobedience of order of CLB