ISLAMABAD - The Supreme Court has observed it would decide on Friday (today) that whether the court would initiate further contempt proceedings against business tycoon Malik Riaz or not.A three-member special bench, headed by Justice Mian Shakirullah is hearing contempt of court case against Malik Riaz Hussain for allegedly ridiculing the judiciary.The court also directed the parties of the case to assist the bench that which contempt law would apply in this case.During the hearing, counsel for Malik Riaz, Dr Abdul Basit said that his client did not want to get benefit from new contempt law. He rejected the media reports that new law was passed to give benefit to his client.The learned counsel said that contempt of court ordinance 2003 was repealed by fresh amendment, therefore, the bench should proceed regarding his client according to the contempt of court law 2012.Dr Basit said that the Chief Justice was the asset of Pakistan because he was giving the rights to a common man in view of the Constitution.He said that the court should adopt rational approach as it did in Arsalan Iftikhar case.Hearing of the case was adjourned till Friday (today).