2025 (12) TMI 563

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....Member (Judicial): These are two Company Appeals. A) Company Appeal (AT) (CH) (INS) No. 362 / 2025: 1. The Company Appeal (AT) (CH) (INS) No. 362 / 2025, is accompanied with a Condone Delay Application, being IA No. 1089 / 2025 where the Appellant has sought a condonation of 11 days of delay that, has chanced in preferring the Appeal being aggrieved as against the impugned order of 23.04.2025, that was passed by the Ld. NCLT, Amaravati Bench in CP (IB) / 11 / 95 / AMR / 2023. 2. When the Company Appeal was taken up on 11.08.2025, we had issued notices to the Respondent and directed to take steps in that regard, steps was taken by the Appellant and according to the report of service, the Respondent could not be served with the no....

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.... the order dated 23.04.2025, as detailed above. 6. The said Application for recall came up for consideration before the Ld. Tribunal, who after observing that, apparently a negligence is being established to have been conducted at the behest of the Creditor and their Counsel having failed to invoke the Bank Guarantee and other observation as made therein, the Ld. Tribunal declined to recall the order dated 23.04.2025, which was passed in CP (IB) / 11 / 95 / AMR / 2023 which is presently subject matter of challenge in the connected matter i.e. in Company Appeal (AT) (CH) (INS) No. 362 / 2025. 7. A similar nature of orders came up for consideration before this Tribunal earlier in Company Appeal (AT) (CH) (INS) No. 363 / 2025 in the matt....

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.... have to be provided to the affected persons to raise the defence, as to under what unforeseen circumstances the alleged negligence has chanced. In the absence of there being any such exercise undertaken by the Tribunal of having provided an effective opportunity to the counsel and to the officials of the bank to defend themselves in the face of accusation of negligence. The observation of the Tribunal made therein in the Order, since being stigmatic in nature, ought not to have been made. Hence, as far as the observation made in para 2 of the impugned order is concerned, the same would stand 'expunged'. The Tribunal, by virtue of the impugned order, had granted a week's time to the Appellant to comply with the directions as co....