{"id":254405,"date":"2021-09-18T13:00:44","date_gmt":"2021-09-18T07:30:44","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=254405"},"modified":"2021-09-18T09:47:21","modified_gmt":"2021-09-18T04:17:21","slug":"nclat-ib-code-speed-and-nclt-directs-to-take-up-the-matter-without-going-into-merits-and-digging-in-deep","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/18\/nclat-ib-code-speed-and-nclt-directs-to-take-up-the-matter-without-going-into-merits-and-digging-in-deep\/","title":{"rendered":"NCLAT | I&B Code, speed and NCLT– Directs to take up the matter without going into merits and digging in deep"},"content":{"rendered":"

National Company Law Appellate Tribunal (NCLAT):<\/strong> The Coram of Justice M. Venugopal, Acting Chairperson, V.P. Singh, Technical Member and Ashok Kumar Mishra, Technical Member, directed NCLT, Principal Bench, New Delhi, adjudicating authority, to take up the pending matter and to pass orders on merits.<\/p>\n

In the instant matter, the grievance to be addressed was that the adjudicating authority was not taking up the matter because of \u2018paucity of time\u2019. Notably, it was alleged that the deadlines of 180 days and 330 days both had expired during the period when the matter was pending.<\/p>\n

The Tribunal keeping the idea of \u2018speed is the gist or essence of I&B Code\u2019 at the epicenter, and without going into any opinion on merits and delving in deep, directed NCLT to take up the matter on the next date of hearing without fail. The Tribunal even stated that the NCLT to pass orders on merits and in a fair, dispassionate manner without being uninfluenced and untrammeled by any of the observations of NCLAT.[Koganti Sree Surya Babu v. Innovari Technology (P) Ltd., Comp. App. (AT) (Ins) No. 746 of 2021, decided on 14-09-2021]<\/p>\n

\n

Agatha Shukla, Editorial Assistant has reported this brief.<\/span><\/p>\n

\n

Counsel for the Parties:<\/strong><\/p>\n

For Appellant:<\/p>\n

Ms. Nidhi Mohan Parashar, Advocate.<\/p>\n

For Respondent:<\/p>\n

Mr. Paratha Sarathy Sarkar, (RP)<\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Law Appellate Tribunal (NCLAT): The Coram of Justice M. Venugopal, Acting Chairperson, V.P. Singh, Technical Member and Ashok Kumar Mishra, <\/p>\n","protected":false},"author":67011,"featured_media":153604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[],"class_list":["post-254405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies"],"yoast_head":"\nNCLAT | I&B Code, speed and NCLT-- Directs to take up the matter without going into merits and digging in deep | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/18\/nclat-ib-code-speed-and-nclt-directs-to-take-up-the-matter-without-going-into-merits-and-digging-in-deep\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLAT | I&B Code, speed and NCLT-- Directs to take up the matter without going into merits and digging in deep\" \/>\n<meta property=\"og:description\" content=\"National Company Law Appellate Tribunal (NCLAT): The Coram of Justice M. 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Cheema (The officiating Chairperson) and Dr Alok Srivastava (Technical Member) while disposing of an appeal, directed NCLT to decide the matter \u2018one way or the other\u2019, hoping that it would take up the application with \u2018all sincerity\u2019. In the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":281287,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/01\/09\/corporate-debtor-corporate-insolvency-resolution-process-cirp-resolution-plan-coc-approved-nclt-allowed-appeal-nclat-commercial-wisdom-dismissed\/","url_meta":{"origin":254405,"position":3},"title":"NCLAT cannot direct modifications of claims once the Resolution Plan is approved","author":"Editor","date":"January 9, 2023","format":false,"excerpt":"In instant matter, the appellants filed an appeal challenging the NCLT order approving the Resolution Plan approved by the CoC. The NCLAT held that once Resolution plan is approved by CoC, it cannot direct modifications of claims to Resolution Plan as the Tribunal does not have residual equity-based jurisdiction.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":262217,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/22\/can-application-filed-under-s-951-read-with-s-601-ibc-be-rejected-on-ground-that-no-corporate-insolvency-resolution-process-was-pending-against-corporate-debtor-nclat-addresses\/","url_meta":{"origin":254405,"position":4},"title":"Can application filed under S. 95(1) read with S. 60(1) IBC be rejected on ground that no Corporate Insolvency Resolution Process was pending against Corporate Debtor? 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National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Dr Alok Srivastava (Technical\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":266459,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/05\/05\/whether-homebuyers-decision-as-a-class-will-be-binding-on-every-homebuyer\/","url_meta":{"origin":254405,"position":5},"title":"Whether Homebuyer\u2019s\u2019 decision as a Class will be binding on every Homebuyer? NCLAT decides","author":"Bhumika Indulia","date":"May 5, 2022","format":false,"excerpt":"National Company Law Appellate Tribunal, Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Shreesha Merla (Technical Member) held that decision taken by the class of Homebuyers will be binding on all the homebuyers. An appeal was filed against the Order passed by the Adjudicating Authority (NCLT, New Delhi).\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/254405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=254405"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/254405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/153604"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=254405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=254405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=254405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}