Kotak Mahindra Bank Ltd vs Sandeep Goel
- CitationCompany Appeal (AT) (Ins) No. 1404 of 2025
Ratio decidendi
The rule this decision rests on
The Tribunal set aside a dismissal for want of prosecution where the applicant's proxy counsel, present on the date fixed, sought only a short adjournment, and where the applicant had indicated that some prayers had become infructuous and that instructions were being obtained on the remaining prayers. The reasoning is that such circumstances do not establish disinterest in pursuing the application, so a finding of non-prosecution on that basis cannot stand and the restoration application should be revived in the interest of justice, subject to no further adjournment being taken.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Company Appeal (AT) (Ins) No. 1404 of 2025 & I.A. No. 5487 of 2025 IN THE MATTER OF: Kotak Mahindra Bank Ltd. ...Appellants Versus Sandeep Goel, ...Respondents (RP of Corporate Debtor) & Anr.
Present: For Appellant : Mr. Rachit Mittal, Mr. Parish Mishra, Mr. Kanishk Raj, Mr. Adarsh Srivastava and Mr. Abhishek Sinha, Advocates. For Respondents : Mr. Kunal Godhwani and Ms. Kinjal Chadha, Advocates for SRA.
ORDER
(Hybrid Mode)
17.09.2025: This appeal has been filed against the order dated
10.07.2025 which reads as follows:-
"ORDER
New Restoration Application /57/ND/2025
Ms. Jayati Arora, Ld. Proxy Counsel for the Applicant is present through VC. This Application has been filed by the Applicant under Rule 11 of the IBC, 2016 for restoration of IA/1858/ND/2024 in IB/901/ND/2020.
Ld. Proxy Counsel for the applicant seeks short adjournment. Since the main counsel is not appearing in the present application and proxy counsel appearing on behalf of the applicant seeks short adjournment, it seems that applicant is not interested in pursuing the matter. Therefore, IA/1858/ND/2025 is dismissed for want of prosecution."
Ld. Counsel for the appellant submits that observation in the order that
"applicant is not interested in pursuing the matter" is not correct. On the date fixed only short adjournment was asked for by the proxy counsel who was
present. Ld. Counsel for the Respondent/SRA pointed out that by earlier
order dated 09.06.2025 the application IA/1858/ND/2024 was dismissed for
non-prosecution. Appellant submits that he has already complied with the
order by filing amended memo and had the appellant given the opportunity to
explain, he would have explained his restoration application 57/ND/2025.
Counsel for the respondent further submitted that in the application there
were four prayers and applicant has already indicated to the court that
prayer-1 & 2 have become infructuous and he took time to obtain
instructions for prayer- 3 & 4 and the matter was pending for the said
instructions.
2. Ld. Counsel for the appellant submits that appellant shall address his
application before the Adjudicating Authority and inform also about the
instructions which he has obtained.
3. Considering the facts of the present case, we are of the view that ends
of justice be served in reviving the RA/57/ND/2025. The order dated
10.07.2025 is set aside. Ld. Counsel for the appellant submits that appellant
shall not take any further adjournment in the RA/57/ND/2025. With the
above, appeal is disposed of.
4. We make it clear that we are not expressing any opinion on the merits
of the applications IA/57/ND/2025 as well as IA/1858/ND/2024.
2 of 3 Company Appeal (AT) (Ins) No. 1404 of 2025 & I.A. No. 5487 of 2025
5. It shall be open for the parties to request the Adjudicating Authority for
fixing the date in the Restoration Application.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) harleen/NN
3 of 3 Company Appeal (AT) (Ins) No. 1404 of 2025 & I.A. No. 5487 of 2025
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