Renu Kapoor vs Shailesh Verma & Ors

14.02.2024: The Appellant/Petitioner has projected the instant Restoration Application No.3/2024 in Company Appeal (AT)(Ins) No.1429/2022 based on the reason that the petitioner/appellant is a resident of Mumbai, and has less/no connection with respect to the Learned counsel in Delhi and it is because of this, the Petitioner/Appellant was not in a position to pass on ‘necessary instructions’ to a new Learned Counsel or appoint/hire a new Learned Counsel to appear/represent, on behalf of the Applicant/Appellant in the instant Company Appeal at such a short notice/duration

It is the plea of the Petitioner/Appellant that he was not aware that the instant ‘Appeal’ got dismissed “due to non-prosecution’’ and added further that the Petitioner/Appellant has also given reasons in the instant Application that the dismissal of the instant ‘Appeal’ resultantly affects approximately 368 Non-Possession Home buyers who are ‘aggrieved’ by the impugned order passed by the Adjudicating Authority/Tribunal in IA No. 769/2022 in CP(IB) No.1765/9(MB)2018.

For the Restoration Application, IA No.3/2024 in Company Appeal (AT)(Ins) No.1429/2022, for R1, Ms Charu Bansal, the Learned counsel appears and opposes the Restoration Application No.3/2024 in the instant ‘Appeal’ by pointing out that the Resolution Plan got approved on 21.07.2023 and as such, the instant Appeal has become an infructuous one. Therefore, the Petitioner/Appellant has not come out with clean hands in filing the Restoration Application No.3/2024 before this Tribunal and on this score alone the instant Appeal is to be dismissed in limine.

Although an objection is raised on behalf of the Respondent stating that the Resolution Plan was approved and on that date the instant Appeal has become an infructuous one, this Tribunal on being subjectively satisfied as to the reasons ascribed on behalf of the petitioner/Appellant, being a resident of Mumbai and has no contact with the Learned counsel in Delhi and because of the reasons it was not in a position to obtain instructions to engage a new Learned counsel or appoint a new lawyer of the Appellant/Applicant in the instant Appeal, this Tribunal is of the earnest view that it will be quite in the fitness of things that the instant Restoration Application is to be allowed,

On a careful consideration of respective submissions, advanced on either side, this ‘Tribunal’ by taking a purposeful, practical and rational approach and not resorting to any kind of hyper-technical approach allows the Restoration Application No.3/2024 to secure ends of justice. No costs.

Consequent to the Restoration Application No.3/2024 being allowed vide this Tribunal today the main Company Appeal (AT)(Ins) No.1429/2022 stands restored to the file of this Tribunal.

After restoration of the Comp App (AT)(Ins) No.1429/2022 to the file of this Appellate Tribunal, the Learned representing counsel for the Appellant, at this stage seeks permission simpliciter from this Tribunal to withdraw the instant ‘Appeal’ based on the reasons that it has become an ‘infructuous’ one. Acceding to his said request the instant Company Appeal (AT)(Ins) No.1429/2022 is dismissed as withdrawn. No costs.