AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Learned Counsel for the Appellants.
This Appeal has been filed against the order dated 23.11.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Guwahati Bench, Guwahati by which the Adjudicating Authority has refused to consider an Application filed under Section 230-232 of the Companies Act, 2013 on the ground that the matter relating to Resolution Plan approved by the Adjudicating Authority is pending before the NCLAT.
Learned Counsel for the Appellants submits that the two Appeals which have been referred to by the Adjudicating Authority are Company Appeal (AT) (Ins.) No. 1468 of 2019 and Company Appeal (AT) (Ins.) No. 1473 of 2019 which have been decided by our judgment of the date. He submits that the Appeals having being decided today, the reason for refusing to entertain the Application is no longer available and the matter be remitted back to the Adjudicating Authority to consider afresh Application filed under Sections 230-232 of the Companies Act, 2013 for arrangement of demerger.
We are of the view that in view of the decision of the Company Appeal (AT) (Ins.) No. 1468 of 2019 and Company Appeal (AT) (Ins.) No. 1473 of 2019 of the date, the reason given by the Adjudicating Authority is no longer in existence. Hence, the order impugned deserves to be set aside and is hereby set aside. The matter is remitted to the Adjudicating Authority to consider the Application afresh and take a decision after hearing the parties.
The Appeal is allowed to the above extent.