Aar Kay Industries (Prop. Indian ... vs Jatalia Global Ventures Limited

IN THE MATTER OF: Aar Kay Industries ....Appellant Prop. Indian Securities Ltd.

Vs.

Jatalia Global Venture Ltd. ....Respondent

Present: For Appellant: Mr. Mateen Ahmad and Mr. Rander Mohd. Asif, Advocates. For Respondent: Mr. Rishabh Jain, Advocate.

ORDER

(HYBRID MODE)

21.12.2023: Heard Learned Counsel for the parties.

2. This appeal has been filed against the order passed by Adjudicating

Authority dated 10.08.2023 by which Section 7 application filed by the

appellant was rejected on the ground that it is barred by time. Adjudicating

Authority has held that if limitation is counted from 19.09.2018 appeal was

filed beyond time.

3. Learned Counsel for the appellant submits that although the request was

made for giving opportunity to file the relevant documents which could not be

filed before the Adjudicating Authority, however, in the appeal appellant has

submits that the documents have been filed namely Form-16A dated

01.06.2019 as well as confirmation of account dated 01.04.2021 which

indicate that appellant's shall get the benefit of Section 18 of Limitation Act,

1963 and the application was not within time.

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4. Learned Counsel for the respondent submits that appellant has not filed

these documents before the Adjudicating Authority, hence, they should not be

looked into for considering the application under Section 7.

5. Learned Counsel for the appellant has relied on the Judgment of Hon'ble

Supreme Court in Dena Bank vs. C. Shivakumar Reddy (2021) 10 SCC. 330

which has clearly held that in Section 7 the applicant is fully entitled to amend

the application or filed additional documents. It is true that those documents

which have been now filed were not filed before the Adjudicating Authority but

we in the appeal also, there is no prohibition in accepting those documents. We

take these documents on the record.

6. In facts of the present case we are of the view that ends of justice be

served in remitting the matter before the Adjudicating Authority for passing a

fresh order, after considering the materials which are brought by both the

parties on record.

7. In result, the order dated 10.08.2023 is set aside, Section 7 application

being CP (IB) No. 263/ND/2023 is revived before the Adjudicating Authority.

Appellant is allowed two weeks' time to file an additional affidavit brining

relevant materials on record for consideration of Adjudicating Authority.

Respondent shall have also right two weeks' time to file Reply to the said

additional affidavit and thereafter Adjudicating Authority may hear the parties

and decide in accordance with law.

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8. The appeal is disposed of accordingly.

[Justice Ashok Bhushan] Chairperson

[Mr. Barun Mitra] Member (Technical)

sa/nn

Company Appeal (AT) (Ins.) No. 1428 of 2023