Suspended Directors' Recall Application Dismissed Due to Limitation Issue

The National Company Law Tribunal dismissed the application for the recall of an admission order by Suspended Directors based on limitation. The Tribunal emphasized that the limitation issue should have been raised earlier in the proceedings and cannot be raised at a later stage. The matter was noted to be pending for the completion of the company's liquidation, and all related matters were directed to be reviewed comprehensively on a specified date.

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Issues:
1. Application for recall of admission order based on limitation.

Analysis:
The judgment delivered by the National Company Law Tribunal, New Delhi, Principal Bench involved an application by Suspended Directors seeking the recall of the admission order dated 15.03.2019 on the grounds of limitation. The applicant's counsel argued that the limitation point was not raised during the admission of the company petition, nor was it argued in the subsequent appeal before the Hon'ble NCLAT, which was rejected on 07.09.2019. The Tribunal noted that if the limitation point was a genuine issue, it should have been raised at the beginning, as it is a mixed question of fact and law. The Tribunal emphasized that the matter was still pending for the completion of the company's liquidation.

Furthermore, the Tribunal highlighted that the applicant cannot now seek a recall of the admission order based on limitation, especially after not raising the issue at the appropriate stages of the legal proceedings. Therefore, the Tribunal dismissed the recall application as misconceived. The judgment also directed the listing of all other pending applications on 11.12.2020, indicating the need for a comprehensive review of all related matters before the Tribunal.

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