TaxTMI 
TaxTMI 
2021 (1) TMI 934
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....ordance with Section 408 and 410 of Companies Act, 2013 (ii) To grant any other equitable relief(s) as the Tribunal deems fit and proper. 2. IBA/31/KOB/2020 has been filed under section 7 of IBC by Advocate Tom K. Thomas and 7 others for recovery of an amount of Rs. 23,21,69,637/- with interest from the Corporate Debtor M/s Kerala Chamber of Commerce and Industry. On 16-9-2020 when the matter came up for admission, Shri Shivsankar R Pancker appeared and took notice for the respondent and objected to the admission of this application raising the question of maintainability. He sought time to file an application to question the maintainability of the IBA 31/KOB.2020. 3. Now the aforesaid IA has been filed stating that the Singl....
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....ctively discharge functions and fulfil the objects of the statutory provision". He has further referred to the decision in Indison Agro Foods Ltd. v. Registrar [Company Appeal (AT) (Insolvency) Nos. 726-727 of 2020, dated 24-8-2020] of the Hon'ble NCLAT in which it was ordered to constitute a Bench comprising Judicial and Technical Members in the Indore Bench for disposal of the matter. Another decision cited is in the case of Sonu Cargo Movers (I.) (P.) Ltd. v. Union of India [W.P. (Civil) No. 722 of 2019, dated 20-6-2019] in which there was a direction to dispose of the matter by the two Members one Judicial and Technical each. In addition to that, section 419(5) of the Companies Act, 2013 states that in case of a difference in opinio....
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....of the National Company Law Tribunal, Indore Bench at Ahmedabad. He invites our attention to an order passed by Hon'ble Apex Court in Writ Petition No. 722 of 2019 dated 20th June, 2019, wherein the Hon'ble Apex Court, in a case of identical nature directed it to be heard by a Bench comprising of a Judicial Member and a Technical Member. This appeal is accordingly disposed of with request to the President, National Company Law Tribunal, New Delhi to constitute a Bench comprising of a Judicial Member and a Technical Member for disposal of the matter in hand in conformity with and compliance with the direction passed by Hon'ble Apex Court in the Writ Petition No. 722 of 2019." (emphasis supplied) A bare reading of the above ord....
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....efore the NCLT Benches. 7. As far as the Judgments in R. Gandhi and Madras Bar Association (supra) is concerned, it deals with the constitution of the NCLT and NCLAT Benches in the Country and who should be appointed as President/Members etc and their qualification, age, selection criteria etc.. The constitutional validity of Chapters IB and IC of the Companies Act has been challenged in those cases. The Hon'ble Apex Court upheld the decision of the High Court that creation of National Company Law Tribunal and National Company Law Appellate Tribunal and vesting in them the powers and jurisdiction exercised by the High Court in regard to company law matters, are not unconstitutional and the Hon'ble Apex Court declared that Chapter....
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.... 2013. This issues with the approval of Hon'ble President, NCLT." Section 419(3) of the Companies Act is quoted as under: 419(3): The powers of the Tribunal shall be exercisable by Benches consisting of two Members out of whom one shall be a Judicial Member and the other shall be a Technical Member; Provided that it shall be competent for the Members of the Tribunal authorised in this behalf to function as a Bench consisting of a single Judicial Member and exercise the powers of the Tribunal in respect of such class of cases or such matters pertaining to such class of cases, as the President may, by general or special order, specify. Provided further that if at any stage of the hearing of any such ....