P Duraiswamy And Three Ors vs Coimbatore Vijay Machine Works Private ...

NATIONAL COMPANY LAW APPELLATE TRIBUNAL AT CHENNAI (APPELLATE JURISDICTION) Company Appeal (AT) (CH) No.32/2024 (IA No.568/2024) In the matter of: P. Duraiswamy & 6 Ors. ...Appellants V Coimbatore Vijay Machine Works Pvt. Ltd. & 5 Ors. ...Respondents Present : For Appellants : Mr. B. Dhanaraj, Advocate ORDER

(Hybrid Mode) 25.06.2024:

The Appellant before this Tribunal is a petitioner in Company Petition TCP/37/2016 being the proceedings under section 397/398 of the Companies Act of 1956 before NCLT, Chennai. He seeks to challenge the order of NCLT, Chennai dated 31.01.2024 passed in the Company Petition TCP/37/2016.

A perusal of the Impugned Order which has been passed, reveals that by the Impugned Order, the petitioner has been called upon by the learned NCLT to take steps to file an appropriate application under section 252, for the purpose of revival of the company, by placing on record the material accounts and other records available with the petitioner. While granting the aforesaid liberty to file an Application under section 252, NCLT, Chennai in the same order has directed for the proceeding continuing under the Company Petition to be kept in abeyance with liberty given to the petitioner to revive the same after the revival of the company in the manner prescribed under section 252 of the Companies Act, 1956. The grievances of the Appellant against this order is that he has been asked to file application under section 252 to revive the company instead of the Respondents who have not taken any steps in that direction so far in spite of the direction of NCLT to that effect on 18.06.2018.

Comp App (AT) (CH) No.32/2024 Page 1 of 2 In all fitness of things, we are of the view that whatsoever contentions have been raised by the Learned Counsel for the Appellant, which has been pleaded in the Company Appeal, they are all still open to be taken as a ground by him, when he files an application under section 252, as directed by the order of 31.01.2024. In fact, by the Impugned Order which has been put to challenge in this appeal, no material right or liability has been crystallized in favour or against the Appellant and thus all his contentions qua the invitation to file the application under section 252, are still left open to be agitated by him before the learned Adjudicating Authority itself. Since the Impugned Order is not deciding a dispute, the Appellate Jurisdiction is hereby being declined to be exercised by this Tribunal with liberty left open for the Appellant to file an application under section 252, as directed by the Impugned Order and if he does so; it is hoped and trusted that NCLT, Chennai will make all endeavours to decide the aforesaid application as well as the Company Petition in TCP/37/2016 which is pending from 2016 onwards as expeditiously, as possible in accordance with Law. Subject to the aforesaid, the Company Petition is laid to rest.

[Justice Sharad Kumar Sharma] Member (Judicial)

[Jatindranath Swain] Member (Technical) VG/TM

Comp App (AT) (CH) No.32/2024 Page 2 of 2