Mumbai, Nov 19: The Bombay High Court has withdrawn its 2022 order sentencing builders Rajen and Hiren Dhruv of Orbit Ventures to six months’ civil imprisonment for contempt of court, after Axis Finance Ltd confirmed that the developers had cleared their outstanding dues and issued a No Objection Certificate (NOC) in their favour.

Bench Recalls Earlier Ruling From March 2022

A bench of Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad passed the order on November 17, recalling its earlier ruling of March 23, 2022, in a contempt petition.

The contempt plea had alleged “wilful and intentional breach” of consent terms dated February 15, 2022, which were filed in proceedings arising from a financial dispute between Orbit Ventures and Axis Finance.

Dispute Originated From ₹163.9

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