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2023 (1) TMI 151 - AT - Insolvency and BankruptcyLocus standi to file the Company Petition - shareholding of petitioner is 70% or not - HELD THAT:- This Tribunal lucidly makes it quite clear that the Tentative Observations, made to the effect that the very Locus standi of the Petitioners to file Company Petition at stake, etc. shall not stand in the way of the Tribunal in deciding or rendering findings of the Locus of the Petitioners and the issues / points for determination, while adverting to the same and the Tentative Finding, so rendered in the impugned orders cannot be a decisive and governing factor for the Tribunal to decide the main Company Petition, in a final and conclusive manner of course, in a fair, just, dispassionate manner and to pass a reasoned speaking order, in a qualitative and quantitative terms by adverting to the points / issues raised and the documents were filed or produced and after weighing the ‘pros and cons’ of the materials can arrive at a reasonable prudent conclusion, viz., in the manner known to Law and in accordance with Law, after providing due opportunities to the relevant parties, by adhering to the principles of Natural Justice in stricto senso of the term. This Tribunal points out that liberty is granted to the Appellants / Petitioners to raise all factual and legal issues before the Tribunal (National Company Law Tribunal, Hyderabad Bench, Hyderabad), including the aspect of the Locus standi of the Appellants/ Petitioners, in regard to the shares held by them and the Tribunal shall permit the Appellants / Petitioners to raise their defences in support of their claims strictly, in accordance with Law, if they so, desire / advised - Appeal disposed off.
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