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2022 (6) TMI 541 - AT - Insolvency and BankruptcyViolation of principles of natural justice - tangible / substantial reasons were assigned by the Tribunal or not - homo sapien - HELD THAT:- No wonder, an impugned order, bereft of reasons, may be a valid one from the point of view of an Authority / Tribunal, who had passed the same but to the affected, the same is not a valid one, as it infringes the right, thereby causing hardship and prejudice to him - the principles of Natural Justice are not the edicts of a Statute. It is to be remembered that absence of furnishing reasons will give an individual a sense of feeling of injustice, whether it be an Administrative/ Judicial / Quasi-Judicial Forum which passes it as opined by this Tribunal. The Respondent Company shall not conduct statutory meeting etc., were passed by the Tribunal in a non-speaking manner and without assigning qualitative and quantitative reasons - the matter is remitted to the National Company Law Tribunal, Division Bench II, Chennai to pass a de novo orders in so far as it relates to the aspect of appointing an independent forensic auditor to conduct the forensic audit on the affairs of the 1st Respondent Company from 01.02.2018 and for issuance of directions in regard to the conduct of statutory meeting, by providing adequate opportunities to both sides to argue the matter and after Hearing the parties, the Tribunal (National Company Law Tribunal, Division Bench II, Chennai), also following the Principles of Natural Justice, is to assign reasons for arriving at its just fair conclusion in granting the reliefs or otherwise in the subject matter in issue. Application closed.
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