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Judgment
ORDER
The Appellant herein is the opposite party to the proceedings of CP (CA) No. 113/2023, being the proceedings which has been instituted under Section 241 and Section 242 to be read with Section 59 of the Companies Act, 2013, and is presently pending consideration before the learned NCLT, Chennai. To cut short the controversy, the Appellant agitates his grievance being aggrieved as against the impugned order dated 16.07.2025, by virtue of which the learned Tribunal, while exercising its inherent powers had granted an order which is interlocutory in nature, whereby directing the parties to maintain a certain status, as it has been observed in the impugned order.
Though there had been quite elaborative argument that has been extended by the Appellant, we are of the view that, the nature of the order, which has been subjected to challenge in this Company Appeal is in the shape of an interlocutory order, for the reason being that, it is only an interim arrangement, which has been made by the Tribunal in the lis pending before it. Besides that, the normal process of law, in case of interim orders, contemplates that, when there is an interlocutory order, the party who is aggrieved by the same should first file an application, seeking vacation of such order and to approach the superior forum for a judicial remedy only after an order is passed on the stay vacation application.
In these eventualities, reserving all rights of the parties to the Appeal, to be agitated before the learned Tribunal, the Appellant here is directed to file a Stay Vacation Application, seeking vacation of the stay order dated 16.07.2025, with a request to the learned Tribunal to take up for consideration such application, in case it is filed and to decide the same on merits, before taking a call on the principal company petition. It would be open for the parties to the Appeal to raise all questions at the stage when the stay vacation application is being considered by the learned Tribunal.
It has been informed by the appellant that, the next date fixed before the learned Tribunal is 17.09.2025. It is hoped and trusted that, the learned Tribunal will make all efforts to decide the stay vacation application if it is filed before the next date fixed and if it is not possible for any reason, then atleast within a period of 3 weeks thereafter.