TMI Blog2019 (2) TMI 971X X X X Extracts X X X X X X X X Extracts X X X X ..... er issued raised rightly or wrongly, has to be adjudicated by some forum whether it be a civil suit or the exercise of jurisdiction by the then Company Law Board? Held that:- The effect of section 430 of Companies Act is that in matters in respect of which power has been conferred on the NCLT, the jurisdiction of the civil court is completely barred - It is not in dispute that were a dispute ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Nikhil Nayyar, AOR, Mr. N. Sai Vinod, Adv., Mr. Dhananjay Baijal, Adv., Mr. Divyanshu Rai, Adv. And Mr. Naveen Hegde, Adv. For the Respondent(s) : None ORDER Heard Mr. Nikhil Nayyar, learned counsel for the appellants. The respondents have been served, but from the inception of the special leave petition in the year 2007, none has been appearing for the respondents. The subject ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Supplies Corporation (P) Ltd. vs. Modern Plastic Containers Pvt. Ltd. and Others (1998) 7 SCC 105, to canvass the proposition that while examining the scope of Section 155 (the predecessor to Section 111), a view was taken that the power was fairly wide, but in case of a serious dispute as to title, the matter could be relegated to a civil suit. The submission of the learned counsel is that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her law for the time being in force, by the Tribunal or the Appellate. The effect of the aforesaid provision is that in matters in respect of which power has been conferred on the NCLT, the jurisdiction of the civil court is completely barred. It is not in dispute that were a dispute to arise today, the civil suit remedy would be completely barred and the power would be vested with the Nat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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