2022 (6) TMI 1222

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er' in IA/320/CHE/2021 dated 24.05.2022 passed by the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-1, Chennai), this 'Tribunal' points out that in the order passed by the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-1, Chennai) in IA/320/CHE/2021 in MA/1066/2019, IA/383/CHE/2021 and MA/820/2019, it is mentioned that the Respondent was led by the Learned Senior Counsel Mr. E. Om Prakash for the Learned Practising Company Secretary, Mr. Jayanth Viswanathan. Furthermore, in the 'Impugned Order' at Paragraph No.5, it is mentioned that "in IA/320/CHE/2021, the Petitioner Ms. Jayashree Mohan, wife of the erstwhile suspended Board of Director Mr. Mohan, undertakes to hand over original title d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nd quantitative reasons, for arriving at the 'just conclusion'. Per contra, the Liquidator / Respondent appearing in person brings it to the 'Notice' of this 'Tribunal' that the Appellant had not raised 'any issue' for 850 days in the 'Instant Case'. The Respondent / Liquidator moved an Interlocutory Application as per Section 19 (2) of the Insolvency & Bankruptcy Code, 2016 and the same is pending before the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-1, Chennai) and it is true that no 'Reply' was filed in IA/383/CHE/20221 before the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-1, Chennai). It is relevantly pointed out that a 'Reasoned Order' will be a 'just and fair one' from the po....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....vision Bench-1, Chennai) in CP/1156/IB/2018 is hereby 'set aside' for the reasons mentioned in this 'Appeal'. The matter is remitted back to the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-1, Chennai) and the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-1, Chennai) is directed to take up IA/320/CHE/2021 in CP/1156/IB/2018 for 'Hearing' 'de novo' and to dispose of the same, by passing a reasoned 'Speaking Order' on merits, of course, after providing adequate opportunities to both the parties, in accordance with law. The fresh orders shall be passed 'uninfluenced' and 'untrammelled' with any of the observations made by this 'Appellate Tribunal', in this 'Appeal'. Before parting, it is m....