2024 (5) TMI 139

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.... AOR Mr. Aman Raj Singh, Adv. Mr. E. C. Agrawala, AOR Mr. Mukul Rohtagi, Sr. Adv. Mr. Sumesh Dhawan, Adv. Ms. Vatsalya Kak, Adv. Mr. Abhinav Agrawal, AOR Mr. Anup Kumar, AOR Mr. Subodh Prasad Deo, Adv. Mr. Vaibhav Prasad Deo, Adv. Mr. Shivama Kumar, Adv. Ms. Shruti Singh, Adv. ORDER 1. Applications for Substitution and Impleadment are allowed. 2. This Civil Appeal is against the decision of the National Company Law Appellate Tribunal (NCLAT) setting aside the order of Special Bench, NCLT comprising of Single Member (Judicial), acting as the adjudicating authority admitting an application under Section 9 IBC 2016, on the solitary ground that the said Member (Judicial) has not been authorized by the President under Proviso Section 41....

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....cised by benches having strength of two members out of whom one shall be a Judicial Member and the other a Technical Member. However, in order to meet the exigency, there is a proviso to this section which says that, a member of the Tribunal, who is authorized by the President to function as a bench, consisting of single Judicial Member bench, in order to exercise the powers of the Tribunal in respect of a particular class of cases or particular matters pertaining to such class of cases. However, it has to be only by a general or special order passed by the President and not otherwise. Nothing has been brought to our notice during the course of hearing that the President of the Tribunal had issue any general or special order to give power t....

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....atter is of such a nature that it ought to be heard by a Bench consisting of two Members, the case or matter may be transferred by the President, or, as the case may be, referred to him for transfer, to such Bench as the President may deem fit..." 10. By virtue of proviso to sub-Section 3 of Section 419, it is competent for a Member of the Tribunal to function as a Bench consisting of Single Judicial Member for exercising powers of the Tribunal. The power and competency of Single Judicial Member to exercise powers of the Tribunal shall be as authorized in this behalf by the President of the Tribunal through a general or a special order. 11. In exercise of the powers under proviso to Section 419(3) of the Act, the President of NCLT, Ne....