Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

2021 (2) TMI 888

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... vised the operational creditor for paper publication which has already been made. As per Rule 49(2) of NCLT Rules, 2016, it is clear that averment made by the respondent for non-receipt of notice is not sustained as Corporate Debtor refused to accept the notice, Moreover, Paper publication has also been made. Hence, in view of this, the present application is liable to be dismissed. Further, Rule-49(2) of NCLT Rules, 2016 comes into play only when the matter is disposed of in a summary manner generally for want of prosecution. Otherwise, the said rule is applicable only for the purpose of setting aside the order of Ex-parte hearing. When the matter is decided, though Ex-parte, on mertis after due consideration and material available .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ted to affect the service of notice through publishing in two newspapers one in Vernacular and another in English newspaper at the place where the registered office of the Corporate Debtor situated. 4. In compliance, with the order dated 23.01.2021, the applicant has published the notice in two newspapers one in The Pioneer English newspaper Bhopal Edition and another Indore Samachar Hindi Newspaper, Indore Edition. The applicant has filled the affidavit for publication report on 13.08.2020 before this Adjudicating Authority along with proof of publication. 5. It is evident from the record that the IRP has already been appointed and CIRP has been commenced, moreover, CIRP is running smoothly. 6. Heard the both Ld. Couns .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sed. 8. Further, Rule-49(2) of NCLT Rules, 2016 comes into play only when the matter is disposed of in a summary manner generally for want of prosecution. Otherwise, the said rule is applicable only for the purpose of setting aside the order of Ex-parte hearing. When the matter is decided, though Ex-parte, on mertis after due consideration and material available on record, in our considered view, this rule cannot be pressed into service. The option to get relief against such order lies in filing an appeal before the Hon'ble NCLAT as per the provisions of law. In this regard, we further submit that the NCLT as such has no power to review its orders passed on merits and its power is limited just to rectify any typographical mistake w .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates