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The Supreme Court set aside the impugned order and remitted the matter back to the National Company Law Appellate Tribunal for fresh disposal in accordance with law. The Special leave petition was accordingly disposed of. The respondent can move the Court if aggrieved. The petitioner was directed to appear before the Appellate Tribunal on May 14, 2018, and notify the respondent of the order. Pending applications were also disposed of.
SC sets aside order, remits matter to NCLAT for fresh disposal. Petitioner to appear before Appellate Tribunal.
The SC set aside the impugned order and remitted the matter back to the NCLAT for fresh disposal. The Special leave petition was disposed of, allowing the respondent to approach the Court if aggrieved. The petitioner was directed to appear before the Appellate Tribunal and notify the respondent of the order. Pending applications were also disposed of.
Setting aside of impugned order - remittance to National Company Law Appellate Tribunal for fresh disposal in accordance with law - application of Macquarie Bank Limited v. Shilpi Cable Technologies Limited - ex parte order with liberty to respondent to move the CourtSetting aside of impugned order - application of Macquarie Bank Limited v. Shilpi Cable Technologies Limited - Impugned order set aside and matter remitted for fresh disposal in accordance with law. - HELD THAT: - Relying on the decision in Macquarie Bank Limited v. Shilpi Cable Technologies Limited, this Court set aside the impugned order and remitted the matter to the National Company Law Appellate Tribunal, New Delhi, for fresh disposal in accordance with law. The Special Leave Petition was disposed of by this order. The order was passed ex parte, and the Court recorded that the respondent would have liberty to approach the Court if aggrieved. The petitioner was directed to appear before the Appellate Tribunal on the date specified and to put the respondent on notice of the order and file proof of service before the Appellate Tribunal. Pending applications were also disposed of.Impugned order set aside; matter remitted to the National Company Law Appellate Tribunal for fresh disposal in accordance with law; Special Leave Petition disposed; ex parte respondent given liberty to move the Court; directions issued as to appearance, service and disposal of pending applications.Final Conclusion: The Supreme Court, applying the ratio of Macquarie Bank Limited v. Shilpi Cable Technologies Limited, set aside the impugned order and remitted the case to the National Company Law Appellate Tribunal for fresh disposal in accordance with law, disposed of the Special Leave Petition, granted liberty to the absent respondent to approach the Court, and issued ancillary directions regarding appearance, service and pending applications.