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Judgment
O R D E R
21.02.2024 Heard the Learned Counsel Mr. Rakesh Kumar appearing for the Appellant. Earlier, the National Company Law Tribunal, New Delhi Bench, Court-II on 17.01.2024 in CP-231/ND/2023 had observed the following:
“CP-231/ND/2023:- Issue notice to the Respondent returnable on 05.02.2024. The Applicant undertakes to serve notice upon the Respondent through all modes viz. registered post, speed post, courier service and Email. Affidavit of service be filed within one week. Reply be filed by the Respondents within 04 weeks from the date of receipt of the notice. Rejoinder, if any, may be filed before the next date of hearing. List the matter on 01.03.2024.
At this stage, Mr. Rakesh, Ld. Counsel appearing for the Applicant pressed that an interim order restraining the Respondent No. 01 from convening any Board meeting be passed. Today, there is no material before us to indicate that any particular, Board Meeting is scheduled. The Tribunal/Court cannot be expected to pass the interim orders without there being any basis or foundation for doing so. The prayer made, Mr. Rakesh Kumar, Ld. Counsel appearing for the Applicant is thus rejected.” and the prayer for interim relief as sought for by the Appellant / Petitioner was rejected.
Assailing the correctness, legality, validly and propriety of the impugned order dated 17.01.2024 in CP-231/ND/2023 passed by the National Company Law Tribunal, New Delhi Bench, Court-II, the Learned Counsel for the Appellant points out that the ‘Tribunal’ had come to resultant conclusion that on 17.01.2024, the date of impugned order being passed. There was no material before it to any particular, Board meeting was scheduled etc. and the very fact that prayer of the Appellant / Applicant was rejected by the ‘Tribunal’ in regard to the ‘interim relief’ as prayed for by the Appellant / Petitioner before the Tribunal, may not be quite correct, in the teeth of the fact that by removing the Appellant / Petitioner, the Board is passing on ‘Resolution’, ‘CS’ and proceeding with the Meetings indefinitely.
Ongoing through the impugned order dated 17.01.2024 in CP-231/ND/2023 by this Tribunal, this ‘Tribunal’ is of the earnest opinion that the ‘Tribunal’ had given Reply of four weeks’ time to the Respondents to file their Reply and Rejoinder may be filed before the next date of hearing.
As on date, the instant Appeal before this Tribunal is only an otiose and premature in as much as in the main CP-231/ND/2023, was directed to be Listed, on 01.03.2024 by virtue of the order dated 17.01.2024 passed by the Tribunal.
Be that as it may, in view of the fact that ‘pleadings’ are yet to be completed as on today i.e. 21.02.2024, this Tribunal, at this stage, ‘simpliciter’ directs the National Company Law Tribunal, New Delhi Bench, Court-II to take up the main CP-231/ND/2023 and on receipt of Reply from the ‘Respondent’ and ‘Rejoinder’ from the other side and to provide adequate ‘opportunity of hearing’, to the respective parties and in fair, just, and in dispassionate manner, of course unbiased the Tribunal is to pass ‘reasoned speaking order’, in qualitative and quantitative terms, by adverting to the respective contentions to be advanced by the either side, of course on merits (including the aspect of any interim order).
In reality, this ‘Tribunal’ is of the considered view that the observation made by the ‘Tribunal’ in impugned order dated 17.01.2024 that there was no material before as to indicate it any particular, board meeting was scheduled can at best for at the extreme can only be considered to be a tentative one and this is not to influence the ‘Tribunal’ to pass a reasoned speaking order mentioned (supra) within a period of four weeks from the date of receipt of copy of this order.
Before parting with the case, needless for this Tribunal point out that the NCLT shall advert to the respective arguments / pleas so raised and to render a finding one way or other touching upon the ‘merits of the matter’. The parties are required to lend the assistance and unstinted cooperation in disposing of the main CP-231/ND/2023. On the file of NCLT, Court-II, New Delhi Bench.
With the aforesaid observations, the instant Company Appeal (AT) No.60 of 2024 stands disposed of.