Rakesh Kumar Agrawal vs M/S Srei Infrastructure Finance ...
- CitationComp. App. (AT) (Ins) No. 823 of 2024
Ratio decidendi
The rule this decision rests on
The dismissal of an application for non-prosecution, where the party concerned has in the meantime filed the affidavit or compliance the adjudicating authority had directed, is set aside, and the application is revived for hearing and decision on merits; the Appellate Tribunal treats the subsequent compliance as cause for restoring the application rather than leaving it dismissed on the earlier non-compliance.
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 Comp. App. (AT) (Ins) No. 823 of 2024 IN THE MATTER OF: Rakesh Kumar Agrawal ...Appellants Versus SREI Infrastructure Finance Ltd. & Anr. ...Respondents
Present: For Appellant : Mr. P. Nagesh, Mr. Abhinav Agarwal, Ms. Neha Mehta Satija and Mr, Harsh Saxena, Advocates. For Respondents : Mr. Abhimanyu Bhandari and Mr. Arav Pandit, Advocates.
ORDER
(Hybrid Mode)
14.05.2024: Heard Mr. A. Bhandari, learned counsel for R1. This appeal
has been filed against the order dated 03.04.2024 by which order in IA No. 2317
of 2022 was dismissed for non-prosecution. Appeal was taken following order
was passed on 29.4.2024:-
ORDER (Hybrid Mode)
29.04.2024: The Learned Counsel for the Appellant submitted that in pursuance of the order dated 08.11.2023 Affidavit was already filed on 25.11.2023 despite the Adjudicating Authority has passed the order impugned dismissing the I.A. No. 2317 of 2022 for non-
prosecution on the ground that RP has not complied the order.
Issue notice. Let notice be served by normal mode as well as personally.
Respondents may file Reply Affidavit before the next date. List this Appeal on 14.05.2024. In the meantime, in pursuance of the impugned order dated 03.04.2024 recommendation issued to the IBBI by the impugned order shall remain stayed.
Cont'd../-
In view of the facts that appellant had already filed an affidavit on
25.4.2024. We are of the view that the IA should be revived and heard afresh. In
view of the above, order dated 03.04.2024 is set aside, IA No. 2317 of 2022 is
revived to be heard and decided in accordance with Law.
Appeal is disposed of.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) harleen/NN
Comp. App. (AT) (Ins) No. 823 of 2024 2 of 2
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