2017 (11) TMI 423

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....ard together and disposed of by this common judgment. 2. In Company Appeal (AT) No. 257 of 2017, the appellant has challenged the order dated 14th July, 2017 passed by National Company Law Tribunal (hereinafter referred to as "Tribunal") Chennai Bench, Chennai in CA No. 122/2017 whereby and whereunder the Tribunal granted 'waiver' under proviso to sub-section (1) of Section 244 of the Companies Act, 2013 and passed the following order: - "Counsel for Petitioner present. Counsel for R2 present. Counsel for Applicant prayed for waiver of the requirements under section 244 of the Companies Act for the purpose of filing Petition under section 241(1). We have heard both the sides. The Petitioner made out the case for grant of waiver u....

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.... on 15th July 2017 and may pass the resolution on the agenda proposed. However, the 1st Respondent Company is restrained from giving effect to the resolution passed till further order. Counsel for Respondent is directed to file the interim counter within ten days to the application and the Company Petition. Put up on 27.07.2017 at 10:30A.M." 4. We have heard learned counsel for the appellant and learned counsel for the respondents. 5. Apart from the fact that both the impugned orders have been passed in a mechanical manner by the Tribunal without considering any exceptional circumstances to allow the application for 'waiver' under proviso to sub-section (1) of Section 244, the Tribunal has not applied its mind as to whether (prop....

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....Tribunal has passed such order. To form an opinion as to whether the application merits waiver, the Tribunal is not only required to form its opinion objectively, but also required to satisfy itself on the basis of pleadings/evidence on record as to whether the proposed application under Section 241 merits consideration. 149. The Tribunal is required to take into consideration the relevant facts and evidence, as pleaded in the application for waiver and (proposed) application under Section 241 and required to record reasons reflecting its satisfaction. 150. The Tribunal is not required to decide merit of (proposed) application under Section 241, but required to record grounds to suggest that the applicants have made out some exception....