In the matter of Gopala Polyplast Ltd.
- CitationIA 5/NCLT/AHM/2020 & IA 1170/NCLT/AHM/2023 in CP(IB)/08/NCLT/AHM/2019
Ratio decidendi
The rule this decision rests on
The Tribunal allowed an application to late-file a reply in an IA on preferential and fraudulent transactions, reasoning that where the applicant is exposed to serious allegations it should be given an opportunity to defend itself, and that admitting the reply would cause no prejudice to the RP or other stakeholders; because the delay had unnecessarily prolonged the matter, the grant of that opportunity was made conditional on payment of costs, with no further extension to be given.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
The case is fixed for pronouncement of the order. The order is pronounced in the open court, vide separate sheet Sd/- Sd/- DR. V. G. VENKATA CHALAPATHY CHITRA HANKARE MEMBER (TECHNICAL) MEMBER (JUDICIAL)
AHMEDABAD DIVISION BENCH COURT-II IA 1170/NCLT/AHM/2023 In IA 5/NCLT/AHM/2020 in CP(IB)/08/NCLT/AHM/2019 IA 1170/NCLT/AHM/2023 Memo of Parties Archit Organosys Limited Having registered office situated at Plot No.25/9-A, Phase-III, GIDC Naroda, Ahmedabad-382330 …. Applicant Versus Mr. Vikas G. Jain Resolution Professional Of Gopala Polyplast Ltd. (Now renamed as HCP Plastene Bulkpack Limited) H.B. Jirawala House Navbharat Soc, Nr.Panchshil Bus Stand, Usmanpura Ahmedabad-380 013 … . Respondent
Order Pronounced on 22.03.2024 Coram Mrs. Chitra Hankare, Member(J) Dr. Velamur G Venkata Chalapathy, Member(T)
Appearance: For the Applicant : Mr. Chetan B. Patel, PCS For Respondent/RP : Mr. Vishal Dave, Advocate along with Advocates, Mr. Nipun Singhvi, Ms. Pragati Tiwari & Mr. Mayur Jugtawat
IA 1170/NCLT/AHM/2023 In IA 5/NCLT/AHM/2020 in CP(IB)/08/NCLT/AHM/2019 JUDGMENT 1. This application is filed under Section 424 of the Companies Act, 2013 read with Rules 11,14,15,32 & 51 of National Company Tribunal Rules, 2016.
2. The applicant stated that the Resolution Professional (RP) has filed an application for Preferential and Fraudulent Transactions vide IA No.5 of 2020. This Tribunal directed respondents to file reply therein. The applicant assigned the work of filing reply to one advocate and was under impression that it was done but the advocate has not filed the reply. The applicant is not part of the alleged transactions and no consent was given for it. Its involvement is not there, therefore, it is necessary to protect its interest. If its right is re-opened, no prejudice will cause to other stakeholders. Hence, prayed for allowing him to file reply. 3. The RP did not file any reply. 4. Heard Ld. PCS for the applicant and Ld. Counsel for the RP.
5. Considering the nature of the application, it is necessary that an opportunity is to be given to the applicant to defend himself against the serious allegations leveled by the RP. If the reply of the applicant is taken on record, no prejudice will cause to the RP or other stakeholders. However, as the applicant failed to file reply within time, the matter was unnecessarily prolonged. Therefore, the applicant must be saddled with some costs. Hence, we pass the following order:-
IA 1170/NCLT/AHM/2023 In IA 5/NCLT/AHM/2020 in CP(IB)/08/NCLT/AHM/2019
ORDER i) Application, i.e. IA 1170/NCLT/AHM/2023, is allowed. ii) The applicant is directed to file reply within seven days from the date of this order, subject to payment of cost of Rs.10,000/- (Rupees ten thousand only) to the Prime Minister Relief Fund. iii) It is further made clear that no further time will be granted either for payment of cost or for filing of reply.
6. Application is disposed of.
Sd/- Sd/- DR. V. G. VENKATA CHALAPATHY CHITRA HANKARE MEMBER (TECHNICAL) MEMBER (JUDICIAL)
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