Stay granted on 'Impugned Order', parties to complete pleadings & submit Notes of Submissions

The National Company Law Appellate Tribunal, Chennai, granted a stay of the 'Impugned Order' until the next hearing, halting proceedings on the file of the National Company Law Tribunal, Bengaluru Bench. Both parties were directed to complete their pleadings, including filing Reply/Response/Counter and Rejoinder. The judgment also allowed submission of Notes of Submissions with citations, to be filed in both electronic and hard copy formats. Deadlines were set for filing responses and the matter was listed for the next hearing on 16.09.2021.

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Issues: Stay of Impugned Order, Pleadings completion, Submission of Notes of Submissions

Stay of Impugned Order:
The judgment by the National Company Law Appellate Tribunal, Chennai, granted a stay of the 'Impugned Order' in respect of specific directions until the next date of hearing. The stay included a halt on further proceedings on the file of the Adjudicating Authority, National Company Law Tribunal, Bengaluru Bench. This decision allowed both the Appellant and Respondent sides to complete their pleadings before the next hearing date. The stay was specifically related to Directions No. (1-6) of the Impugned Order dated 28.05.2021.

Pleadings Completion:
The judgment emphasized the importance of completing pleadings before the next date of hearing. It instructed the Learned Counsel for both the Appellant and Respondent sides to file Reply/Response/Counter in the respective appeals and also filing of Rejoinder, if any, before the Office of the Registry. The completion of pleadings was not limited to e-filing but also required submission through Hard Copy. The exchange of necessary copies between the counsels was mandated one week before the next date of hearing.

Submission of Notes of Submissions:
Furthermore, the judgment allowed the Learned Counsel appearing for the respective parties to submit their Notes of Submissions, limited to three to four pages, along with Citations. These submissions were to be filed before the Office of the Registry, not only through e-filing but also through Hard Copy. The copies of these submissions were to be exchanged between the counsels well in advance before the next date of hearing. The judgment set a specific deadline for the filing of Reply/Response/Counter of Respondent(s) in the form of Hard Copy, granting two weeks' time from the date of the judgment. It also allowed the filing of Rejoinder by the Appellants within one week after receiving the Respondent's submissions. The Office of the Registry was directed to list the matter for the next hearing on 16.09.2021.

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