2024 (8) TMI 1466 - HC - Companies Law

Appeal dismissed as premature; parties to argue before Single Judge and await RBI's independent report submission.

EXCLUSIVE CAPITAL PVT. LTD. Versus EVAAN HOLDINGS PVT. LTD. & ORS.

The appeal was dismissed as premature by the HC since the Single Judge had not yet addressed the objections or merits of the writ petition. The parties ... Preliminary objections with regard to the maintainability of the writ action not considered - after some preliminary observations, Single Judge has merely issued notice in the writ petition. No interim order has been passed. HELD THAT:- The moment, the appeal is premature. Single Judge has not ruled one way or the other, i.e., either on the preliminary objections concerning maintainability of the writ action or on the merits of the matter. It is our sense that the observations are exploratory at this stage and do not advert to the final decision on the issues concerning preliminary objections or qua the merits. The appeal is, accordingly, closed. The parties will have their complete say before the learned Single Judge. As expected that RBI will submit its report uninfluenced by the observations made in the impugned judgment and order. As far as this Court is concerned, clearly, we have not expressed any view on the merits of the case. The appeal was filed against a judgment where the Single Judge issued notice in a writ petition without passing any interim order. The appellant raised objections regarding the maintainability of the writ action, but the High Court found the appeal premature as the Single Judge had not ruled on the objections or the merits of the case. The appeal was closed, parties will present their case before the Single Judge, and the RBI was instructed to submit its report independently. The High Court did not express any view on the case's merits.