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2022 (6) TMI 1222 - AT - Insolvency and BankruptcyViolation of principles of natural justice - Non-speaking order - grievance of the Appellant is that the Impugned order suffers from serious infirmity in the eye of law because of the fact that the said order is bereft and devoid of reasons, for want of material particulars in explaining necessary qualitative and quantitative reasons, for arriving at the just conclusion - HELD THAT:- Considering the fact that the Impugned Order suffers from infirmity in the eye of law, therefore, it cannot stand a moment scrutiny in law, especially, for want of qualitative and quantitative reasons being ascribed thereto in the said Order and especially the said order is a cryptic and unreasoned one, which necessitates an inevitable conclusion to be arrived at, by this Tribunal, that the same is not valid in law. This Tribunal is inclined to interfere to the said Impugned order for substantial cause of justice. The Impugned Order dated 24.05.2022 in IA/320/CHE/2021 in CP/1156/IB/2018 passed by the Adjudicating Authority’ (National Company Law Tribunal, Division Bench-1, Chennai) in CP/1156/IB/2018 is hereby set aside - the matter is remitted back to the Adjudicating Authority (National Company Law Tribunal, Division Bench-1, Chennai) and the Adjudicating Authority (National Company Law Tribunal, Division Bench-1, Chennai) is directed to take up IA/320/CHE/2021 in CP/1156/IB/2018 for Hearing de novo and to dispose of the same, by passing a reasoned ‘Speaking Order’ on merits, of course, after providing adequate opportunities to both the parties, in accordance with law. Appeal disposed off.
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