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2019 (6) TMI 1464 - Tri - Companies LawRestoration of petition - initiation of CIRP - Section 408 read with Section 424 of the Companies Act, 2013 - HELD THAT:- Perusal of Section 424 (2) of Companies Act, 2013 shows that this Tribunal for the purpose of discharging its functions under this Act or under IBC, 2016 shall have the same powers as are vested in a civil court under the Code of Civil Procedure 1908 while trying a suit in respect of the matters specified in Clause (a) to Clause (h) of Section 424(2) of the Act of 2013. Under the Companies Act, 2013, by virtue of the powers contained under the said Act, NCLT Rules, 2016, upon its constitution of this Tribunal have been framed by the Central Government - learned counsel for the applicant in this connection as evident from the submission made by him, is trying to project a view that what is sought before this Tribunal is only a procedural review in view of certain procedural lapses which have occasioned as evident from the application and not of a substantial review based on the merits of the petition and that only under the later case namely, substantial review when it is sought for from this Tribunal it could not exercise its inherent powers whereas in the case of the former, namely, a procedural review it is within the scope and ambit of powers of this Tribunal being an adjudicating authority. A duty is cast upon the company, namely the CD under the provisions of Companies Act, 2013 to communicate any change in the registered office address from one place to other in the requisite form to the concerned ROC and if the company has not chosen to communicate with the concerned ROC, in this case ROC, Jaipur, neither the Financial Creditor nor this Tribunal can be blamed, for its own inaction and it has to deal with the consequences arising out of it. This cannot be considered as a procedural lapse on the part of the Tribunal nor on the part of the Financial Creditor which can lead to a procedural review, as sought to have been exercised by NCLT Bench Calcutta in the decision cited on behalf of the applicant company under the facts and circumstances stated therein. There are no procedural lapses on the part of this Tribunal exercising its powers in passing the order dated 08.03.2019 - application dismissed.
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