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2020 (8) TMI 645 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIAppealable order or not - whether the order of refusal passed by the Judicial Authority (National Company Law Tribunal) under Section 45 of the ‘Arbitration and Conciliation Act, 1996’ is appealable under Section 421 of the Companies Act, 2013? HELD THAT:- Since promulgation of the Companies Act, 2013, the power of the Hon’ble High Court vested under different provisions stands transferred to ‘National Company Law Tribunal’ in terms of Section 434 of the Companies Act, 2013 and the appeal power is not vested with the Hon’ble High Court but before this Appellate Tribunal. The Hon’ble Supreme Court in SUMITOMO CORPORATION VERSUS CDC FINANCIAL SERVICES (MAURITIUS) LTD. [2008 (2) TMI 627 - SUPREME COURT] observed in paragraph 25 of the said judgment that the expression ‘court’ not simpliciter but qualified by the wording “authorised by law to hear appeals from such order”. - In the present case, the order having passed by the Judicial Authority under Section 45 of the ‘Arbitration and Conciliation Act, 1996’ and in absence of any power delegated under the ‘Arbitration and Conciliation Act, 1996’, it is held that the appeal is not maintainable. Appeal disposed off.
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