Interim status quo relief preserved NCLT proceedings pending proposed review petition(s) and avoided prejudice to future review rights.

An interim status quo arrangement was ordered to preserve the proceedings before the National Company Law Tribunal pending filing and consideration of proposed review petition(s). The Court noted the appellant's asserted right to seek review and the concern that immediate implementation of the challenged directions could create future legal complications, but expressly made no opinion on the merits. The operative effect was to maintain the existing position until the review petition(s) were disposed of.

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Issues: Whether an interim status quo order was warranted in respect of the proceedings pending before the National Company Law Tribunal pending filing and consideration of the proposed review petition.

Analysis: The appellant asserted a subsisting right to seek review of the earlier judgment and stated that the limitation period had not expired, while also expressing apprehension that immediate implementation of the directions under challenge could prejudice the proposed review. The Court, without expressing any opinion on merits, found that an interim arrangement was to protect the matter from future legal complications.

Outcome: Status quo was ordered with respect to the proceedings before the National Company Law Tribunal, to operate pending disposal of the review petition(s) to be filed and considered by the Court.

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