https://www.taxtmi.com/caselaws?id=774219 The NCLAT Principal Bench allowed a restoration application that was initially dismissed for non-prosecution under Rule 48(2) of NCLT Rules, 2016. The Appellant's petition was dismissed when an additional affidavit containing loan agreements remained defective in the registry due to counsel's inaction. The NCLAT found sufficient cause existed as the Appellant was not casual, filed the restoration application within 30 days, and the defects were curable. The Tribunal noted the Appellant voluntarily sought to file additional documents, and the matter could have proceeded on merit regardless. The dismissal based solely on defective additional affidavit was unsustainable. en-us Thu, 03 Jul 2025 00:00:00 +0530 Sat, 05 Jul 2025 08:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774219 The NCLAT Principal Bench allowed a restoration application that was initially dismissed for non-prosecution under Rule 48(2) of NCLT Rules, 2016. The Appellant's petition was dismissed when an additional affidavit containing loan agreements remained defective in the registry due to counsel's inaction. The NCLAT found sufficient cause existed as the Appellant was not casual, filed the restoration application within 30 days, and the defects were curable. The Tribunal noted the Appellant voluntarily sought to file additional documents, and the matter could have proceeded on merit regardless. The dismissal based solely on defective additional affidavit was unsustainable. Case-Laws IBC Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774219