2023 (4) TMI 774

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....stant Comp. App (AT) (CH) (INS.) No. 54 / 2023 in IA(IBC)/601(CHE)/2022 in CP/1264/IB/2018, on being dissatisfied with the 'Impugned Order', dated 25.08.2022 in CP/1264/IB/2018, passed by the 'Adjudicating Authority', National Company Law Tribunal, Special Bench, Court - I, Chennai. 3. Earlier, the 'Adjudicating Authority' / 'Tribunal', while passing the 'Impugned Order', dated 25.08.2022, in IA(IBC)/601(CHE)/2022 in CP/1264/IB/2018, as follows: "This Tribunal vide its Order dated 20.06.2022 had directed the Applicant to file the amended Application in IA/596/CHE/2022 and IA/601/2022 within seven days and the matter was posted to 21.07.2022 for further hearing. When the matter was called today, it is confirmed that the Applicant has no....

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.... in IA(IBC)/601(CHE)/2022 in CP/1264/IB/2018, on the file of the 'Adjudicating Authority', 'National Company Law Tribunal', Special Bench, Court - I, Chennai, this 'Tribunal', is of the considered view that, though the Learned Counsels appearing for the 'Parties', were present, nothing is made mention of or recorded in the 'Impugned Order', as to whether the Learned Counsels, had prayed for an 'opportunity', to explain the necessary facts having provided to them. 9. Suffice it, for this 'Tribunal', to make a pertinent mention that the 'Impugned Order', is conspicuously silent, on this aspect. 10. In this regard, it is not out of place, for this 'Tribunal', to aptly points out the Judgment of the Hon'ble Supreme Court of India, dated 16.07....

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....to the 'Affected Party', because of the fact that the concerned 'Party', is prejudicially and substantially affected. However, even an 'unreasoned order', may be 'valid', from the view point of the person, who got a 'favourable order'. 12. It is an 'axiomatic principle in Law', that the 'Tribunal' / an 'Appellate Tribunal', are guided by the 'Principles of Nature Justice', notwithstanding the fact that it can regulate its own procedure, as it deems fit and proper. However, the 'Tribunal' (Adjudicating Authority), under Section 5 (1) (a) of the I & B Code, 2016 - 408 of the Companies Act, 2013 and an 'Appellate Tribunal' ('NCLAT'), as per Section 410 of the Companies Act, 2013, are very much required and guided to adhere to the 'Principles ....