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Judgment
11.03.2025: This is an IA No.1622/2025 filed by the appellant under Rule 31 of the NCLAT Rules 2016 seeking exemption from filing typed copies, clear copies of dim/unclear and illegible documents as annexures. Considering the submissions made in the application, the IA No.1622/2025 is allowed subject to filing of legible copies of the annexures within two weeks from today.
This is an IA No.1621/2025 filed by the appellant under Rule 31 of the NCLAT Rules, 2016 for exemption from filing certified copy of the impugned order dated 18.02.2025 with the appeal. Considering the submissions made in the application, the IA No.1621/2025 is allowed subject to filing of certified copy of the impugned order within two weeks from today.
This appeal is filed by the appellant against an impugned order dated 18.02.2025 pass in IA No.54/2025 wherein similar application was listed on 19.02.2025 and the same is now listed on 19.03.2025.
Vide this appeal the learned counsel of the appellant has argued that there should be stay on the sale , transfer and/or disposal of the assets of Sawhney Builders PVt Ltd (including the movable and immoveable assets of the company held by the Respondents in fiduciary capacity) until the final disposal of both company petitions bearing CP No.180 of 2024 and CP No.172 of 2024. It is submitted that an appeal was filed vide Company Appeal (AT) No. 350/2024 wherein a similar prayer was made by the appellant qua the status quo as on assets and shareholding of the company was requested to be maintained. However, the said appeal was decided vide order dated 24.10.2024 with the following orders:-
“In any case, it is fairly submitted by the learned counsel for Respondent No.2 to 4 that though the meeting is to be held on 30th October, 2024 but they would not implement the resolution passed qua removal of appellants, if any, till further orders passed by the learned NCLT. Let both the petition be now placed before the Ld. NCLT on 4th November, 2024 and till further orders of the learned NCLT qua the correctness of proceedings of meeting dated 30.10.2024, the decision on aforesaid be not implemented.”
It is the submission of the learned counsel for the Respondent that the appeal is with similar prayer is not maintainable and it is submitted that the application No.54/2025 is listed on 19.03.2025 before the Ld. NCLT. It is the submission of the learned counsel for the appellant that the Respondent have entered into an agreement for sale of assets of company on 17.12.2024. However, it is the submission of the Respondent that the main business of the company is sale and purchase of properties.
We direct the Ld. NCLT to hear the application on the date fixed and dispose it of at the earliest.
The appeal stands disposed of.