2025 (12) TMI 886

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....rav Mitra, Ld. Counsel for the applicant as well as Mr. Ravi Gupta, Ld. Sr. Counsel appearing for the Respondent/Kotak Mahindra Bank Ltd. and perused the record. 2. The instant application has been moved by the applicant to permit him to correct the nomenclature of the application from 'Review application' to 'Recall application' and also to direct the NCLT not to proceed with the application moved by the Respondent under Section 7 of the Code till disposal of the recall application, by this appellate tribunal. 3. Since we are intending to hear the application which has been titled as Review Application, however pertaining to which the prayer has been made to correct its nomenclature as recall application, today itself and we have bee....

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....e with the same pending Section 7 application while the Hon'ble Supreme Court has held exactly the opposite of the same. 3. It is also submitted that another wrong observation has been made by this appellate tribunal in paragraph 12 of the judgment by observing that the application filed under Section 7 by the appellant was considered to have been filed within the period of limitation (by the Ld. Tribunal), which is not correct. 4. It is submitted that the abovementioned wrong observations made by this appellate tribunal has resulted in an adverse judgment against the applicant and thus for the reasons aforesaid the aforesaid judgment be recalled. 5. Ld. Sr. counsel appearing for the Respondent-Kotak Mahindra Bank Ltd. however subm....

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....of 10 cheques by appellant, the respondent is placing a new case, which was never pleaded by respondent. 9. Having heard Ld. Counsel for the parties in depth and having perused the record, we notice that in paragraph no. 11 of the judgment this appellate tribunal has quoted the extract of the impugned judgment passed by the Ld. Tribunal and paragraph no. 12 of the judgment is required to be read in consequence of the same. Moreover, the paragraph no. 12 of the judgment is not a finding recorded by this appellate tribunal and it is only the narration of facts, as the findings and reasoning has been given from paragraph no. 23 onwards of the judgment, therefore the observation highlighted by Ld. Counsel for the applicant at paragraph no. 1....