https://www.taxtmi.com/caselaws?id=403628 Review jurisdiction is strictly statutory and cannot be assumed as an inherent power. The NCLAT explained that Rule 11 preserves only limited inherent powers to secure the ends of justice or prevent abuse of process, while section 420(2) of the Companies Act permits only correction of mistakes apparent from the record, not a substantive rehearing. It further noted that an error apparent must be patent and self-evident; disputed account confirmations, journal entries, and reconciliation issues require reappraisal of evidence and therefore fall outside review. Section 152 CPC was also described as limited to clerical or arithmetical corrections. en-us Wed, 03 Feb 2021 00:00:00 +0530 Wed, 30 Oct 2024 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403628 Review jurisdiction is strictly statutory and cannot be assumed as an inherent power. The NCLAT explained that Rule 11 preserves only limited inherent powers to secure the ends of justice or prevent abuse of process, while section 420(2) of the Companies Act permits only correction of mistakes apparent from the record, not a substantive rehearing. It further noted that an error apparent must be patent and self-evident; disputed account confirmations, journal entries, and reconciliation issues require reappraisal of evidence and therefore fall outside review. Section 152 CPC was also described as limited to clerical or arithmetical corrections. Case-Laws IBC Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403628