https://www.taxtmi.com/caselaws?id=763880 The NCLAT Chennai Bench allowed an appeal where the Adjudicating Authority had dismissed a company petition due to simultaneous pursuit of a civil suit. The Appellant had filed both a company petition under Section 59 of the Companies Act and a civil suit claiming title over equity shares. Despite the Appellant's undertaking to withdraw the civil suit and filing a withdrawal memo, the company petition was dismissed on 10.08.2022 as the civil suit remained pending. The civil suit was subsequently dismissed as withdrawn on 13.08.2022. The NCLAT held that the right to judicial remedies under Article 21 cannot be denied due to minor procedural technicalities, and ordered the company petition to be considered on merits. en-us Tue, 24 Dec 2024 00:00:00 +0530 Tue, 31 Dec 2024 08:43:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763880 The NCLAT Chennai Bench allowed an appeal where the Adjudicating Authority had dismissed a company petition due to simultaneous pursuit of a civil suit. The Appellant had filed both a company petition under Section 59 of the Companies Act and a civil suit claiming title over equity shares. Despite the Appellant's undertaking to withdraw the civil suit and filing a withdrawal memo, the company petition was dismissed on 10.08.2022 as the civil suit remained pending. The civil suit was subsequently dismissed as withdrawn on 13.08.2022. The NCLAT held that the right to judicial remedies under Article 21 cannot be denied due to minor procedural technicalities, and ordered the company petition to be considered on merits. Case-Laws IBC Tue, 24 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763880