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Issues: (i) Whether the company petition, earlier disposed of consequentially after withdrawal of the connected proceeding, should be restored to file and heard on merits; (ii) Whether the tribunal could adjudicate the allegations of forgery, perjury and the related prayer for criminal prosecution arising from the verification affidavits in the interlocutory applications.
Issue (i): Whether the company petition, earlier disposed of consequentially after withdrawal of the connected proceeding, should be restored to file and heard on merits.
Analysis: The restoration request was considered in the light of the fact that the earlier disposal had been made only because a connected insolvency proceeding was then pending. Once that basis disappeared, the petitioner could not be left without a remedy for no fault of its own. The order emphasized that procedure is meant to advance justice and that, where possible, matters should be decided on merits rather than terminated by a procedural event.
Conclusion: The company petition was restored to file and relegated to the stage of hearing.
Issue (ii): Whether the tribunal could adjudicate the allegations of forgery, perjury and the related prayer for criminal prosecution arising from the verification affidavits in the interlocutory applications.
Analysis: The tribunal held that questions about the genuineness of signatures, forgery and perjury fall within the domain of the competent criminal court or investigating authority. It therefore declined to enter upon the merits of those allegations or to order criminal prosecution in the proceedings before it, while leaving the parties free to pursue appropriate remedies before the proper forum.
Conclusion: The tribunal declined to decide the forgery and perjury allegations on merits and held that such matters must be pursued before the competent forum.
Final Conclusion: The petition was restored for adjudication on merits, while the ancillary allegations of forgery and perjury were left to the competent criminal forum.
Ratio Decidendi: Where the basis of a prior procedural disposal disappears, the affected proceeding may be restored so that substantive rights are not defeated by procedure, but allegations of forgery or perjury lie outside the tribunal's jurisdiction and must be addressed by the competent criminal forum.