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Issues: Whether the impugned order dated 28.11.2025 passed by the NCLT, which limited oral arguments and directed filing of short written notes, denied the appellants a fair hearing and amounted to a violation of principles of natural justice warranting interference by the Appellate Tribunal.
Analysis: The Appellate Tribunal examined the impugned order, the course of events on 28.11.2025 and earlier proceedings including hearings on 31.10.2025; considered the extent of oral hearing actually afforded to the appellant; and applied the governing principle that procedural rules are subject to the requirement of natural justice but do not guarantee unlimited oral advocacy. The Tribunal relied on authority establishing that the right to be heard requires a fair and reasonable opportunity which may be satisfied by limited oral argument supplemented by written submissions where oral presentation is not essential. It noted the NCLT's power to regulate its procedure, the fact that the appellant had been heard orally for about an hour, and that the NCLT had directed filing of short notes to be considered before reserving orders.
Conclusion: The Appellate Tribunal concluded that there was no denial of a fair hearing or breach of natural justice in the impugned order and that interference was not warranted. The appeal is therefore disposed of without upsetting the impugned order; pending applications referred to were directed to be considered by the NCLT and specific listed pending applications were disposed of.
Ratio Decidendi: A tribunal may, consistent with natural justice, regulate oral advocacy including limiting oral argument and directing written notes where a reasonable and fair opportunity to be heard has been given; such procedural regulation does not amount to denial of hearing if parties receive a fair opportunity and the tribunal applies an instructed, impartial mind to the submissions.