HC dismisses contempt plea

Justice K. Lakshman of the Telangana High Court connected Friday dismissed a contempt of tribunal petition filed by Ras Al Khaimah Investment Authority (RAKIA) against industrialist Nimmagadda Prasad.

RAKIA secured a civilian decree successful a tribunal astatine Ras Al Khaimah, 1 of the emirates of UAE, successful a fiscal quality relating to VANPIC task (of Andhra Pradesh) awarded to RAKIA connected authorities to authorities basis. RAKIA aboriginal filed an execution petition successful a commercialized tribunal here.

While the execution petition was pending, RAKIA filed a contempt petition against Mr. Prasad alleging that the second was acquiring different companies done his company. In July past year, the HC ordered them to support presumption quo successful the matter.