A bench of justices K S Radhakrishnan and J S Khehar in a strongly-worded judgement came down heavily on the Group for “systematically” frustrating and flouting all its orders with impunity on refunding investors' money. It said the group “adopted a demeanour of defiance constituting a rebellious behaviour, not amenable to the rule of law” and justified its decision to send Roy along with two promoters of the companies to jail.
The bench said it started adopting sequentially harsher means to persuade compliance of it's order on refunding money leading to his detention after all the efforts to “cajole” the two companies and the petitioner were “methodically circumvented”.
“Efforts made to cajole the two companies and the petitioner were always stonewalled and brushed off. All intermediary means to secure compliance of this Court's orders dated 31.8.2012 and 5.12.2012, were evaded and skirted.
“Even proposals to secure the payments (as against, the payment itself) to be made to the investors, in terms of this Court's orders, were systematically frustrated,” it said. The bench also slammed Roy plea seeking its recusal from hearing the case.
