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Judgment
Heard Mr. Abhijeet Sinha, learned counsel assisted by two counsels namely Mr. Karan Valecha and Mr. Ravi Pahwa and Mr. Palash S Singhai, learned counsel for Respondent No.1 and 2 who are main contesting Respondents in the present appeal since both the respondents have filed an application under Section 241-242 of the Companies Act, 2013 which is pending before the National Company Law Tribunal, Ahmedabad Bench, Court I vide Company Petition No.65/2017.
The present appeal has been preferred under Section 421 of the Companies Act, 2013 against an order dated 28.09.2022 passed on IA No.66(AHM)/2022 in CP No.65/2017. By the said order the learned NCLT has allowed an application filed by the Respondent No.1 and 2 herein which was filed under Rule 81 and 11 of the National Company Law Tribunal Rules, 2016. By the said order the learned NCLT was pleased to direct the appellants herein to call the petitioners before the NCLT as a special invitees of the Meeting of the Board of Directors whenever there is an issue of policy related matter of Respondent No.1 company. Upon going through the Agenda Item No.6 and 7it was gathered by NCLT that by taking recourse to Section 180 of the Companies Act, 2013 the respondent (appellants herein) may dispose off assets of assets of the Respondent No.1 company which they holding under the Trust. The NCLT ordered that agenda at serial No.6 and 7 in AGM dated 29.09.2022 shall be removed besides passing certain other directions.
After the appeal was taken up for hearing, Mr Abhijeet Sinha, learned counsel for the appellant while assailing the impugned order alternatively prayed that if a direction is given to the NCLT to finally decide the main CP No.65/2017 he may not press the present appeal. Learned counsel for the Respondent has got no objection and he also submits that he will render every assistance to the NCLT to decide the Company Petition No.65/2017 at the earliest.
Accordingly in view of stand taken by the learned counsel for the parties, there is no need to go into the merit of the present appeal. With the consent of both the parties the appeal stands disposed off with observation that the Learned NCLT may take steps for early disposal of the CP No.65/2017 preferably within three months on receipt/production of the copy of the order. With the above observations and directions the appeal stands disposed off.
It goes without saying that while finally deciding the company petition the NCLT may not be influenced by the observations of this Appellate Tribunal or observations given by the NCLT in the impugned order.