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NCLAT dismissed the appeals and affirmed the Adjudicating Authority's orders refusing restoration and rejecting the second Section 94 petition. The Tribunal found the Appellant repeatedly failed to prosecute proceedings, filed successive petitions on the same cause of action without liberty, and offered no satisfactory explanation for non-appearance, amounting to abuse of process and obstruction of creditor recovery and SARFAESI enforcement. NCLAT held the Adjudicating Authority permissibly scrutinised bonafides, applied IBC timeliness principles, and was justified in refusing restoration and dismissing the second petition for non-prosecution. Negligence of counsel did not supply a tenable excuse; the appeals were devoid of merit and were dismissed.
NCLAT dismissed the appeals and affirmed the Adjudicating Authority's orders refusing restoration and rejecting the second Section 94 petition. The Tribunal found the Appellant repeatedly failed to prosecute proceedings, filed successive petitions on the same cause of action without liberty, and offered no satisfactory explanation for non-appearance, amounting to abuse of process and obstruction of creditor recovery and SARFAESI enforcement. NCLAT held the Adjudicating Authority permissibly scrutinised bonafides, applied IBC timeliness principles, and was justified in refusing restoration and dismissing the second petition for non-prosecution. Negligence of counsel did not supply a tenable excuse; the appeals were devoid of merit and were dismissed.
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