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As per the case facts Daiichi Sankyo sought to enforce a foreign arbitral award against multiple respondents There was an apprehension that the respondents were attempting to move assets out
...of reach Undertakings were given to the High Court regarding shareholdings but these undertakings were allegedly violated through subsequent transactions Contempt proceedings were initiated due to these alleged violations and reduction in shareholdings The appeal to the Supreme Court centered on the enforcement of the award and the alleged contemptuous actions The question arose whether the transactions undertaken by the contemnors violated previous court undertakings and constituted contempt and if assets apparently in the names of certain persons or entities could be proceeded against to satisfy the award Finally the Supreme Court found that the actions of the contemnors clearly showed a lack of intention to comply with their undertakings thereby holding them in contempt The Court directed that various properties and assets including those pledged with a bank and those offered by the contemnors to purge contempt should be available to the executing court The executing court would decide on the appropriation of these assets including whether assets in the names of other entities could be used to satisfy the award
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