https://www.taxtmi.com/caselaws?id=770219 NCLAT Principal Bench partially allowed the appeal in a case involving non-existence of companies at addresses where bank notices were issued. The tribunal held that the adjudicating authority should have awaited the RoC report to verify company existence before proceeding further. The authority erred in directing the director to physically appear and provide explanations at that stage. The tribunal also found the imposition of Rs. 25,000 costs on each respondent for submitting replies within a week was unwarranted given the circumstances. en-us Mon, 05 May 2025 00:00:00 +0530 Thu, 08 May 2025 09:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770219 NCLAT Principal Bench partially allowed the appeal in a case involving non-existence of companies at addresses where bank notices were issued. The tribunal held that the adjudicating authority should have awaited the RoC report to verify company existence before proceeding further. The authority erred in directing the director to physically appear and provide explanations at that stage. The tribunal also found the imposition of Rs. 25,000 costs on each respondent for submitting replies within a week was unwarranted given the circumstances. Case-Laws Companies Law Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770219