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Auction Order Overturned for Non-Impleadment; Tribunal Calls for Fresh Consideration and Delays E-auction Proceedings. The NCLAT, Chennai, set aside the impugned order dated 09.02.2024 due to the non-impleadment of the Successful Auction Purchaser/Appellant in the ...
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Auction Order Overturned for Non-Impleadment; Tribunal Calls for Fresh Consideration and Delays E-auction Proceedings.
The NCLAT, Chennai, set aside the impugned order dated 09.02.2024 due to the non-impleadment of the Successful Auction Purchaser/Appellant in the proceedings before the NCLT, Chennai. The Tribunal directed a fresh consideration by the Adjudicating Authority for impleading the Appellant. The 1st Respondent must file an interlocutory application to include the Appellant within three working days. The Liquidator was instructed to defer the E-auction pending further orders. The Tribunal focused solely on the non-impleadment issue, without addressing the case's merits, and closed all connected pending applications.
Issues involved: Non-impleadment of the Appellant/Successful Auction Purchaser in the proceedings before the Adjudicating Authority/National Company Law Tribunal, Division Bench Court-I, Chennai.
Summary: The National Company Law Appellate Tribunal, Chennai, considered Comp. App. (AT)(CH)(Ins) No.79 of 2024, where the Adjudicating Authority had directed the Petitioner/1st Respondent to implead the Successful Auction Purchaser/Appellant as a Respondent. However, the Appellant was not included as a party, leading to a lack of opportunity to present views. The Tribunal noted that the omission was crucial and impacted the impugned order. Consequently, the Tribunal set aside the Impugned Order dated 09.02.2024, directing a fresh consideration by the Adjudicating Authority for impleading the Appellant. The 1st Respondent was instructed to file an interlocutory Application for impleading the Appellant within three working days. The Liquidator was directed to defer the E-auction pending further orders from the Adjudicating Authority. The Tribunal clarified that it did not delve into the merits of the case but focused on the non-impleadment issue. All connected pending applications were closed.
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