Yathin Reddy & Anr vs M. Nandana Reddy & Ors

IN THE MATTER OF: Yathin Reddy & Anr. ...Appellants Vs. M. Nandana Reddy & Ors. ...Respondents

Present: For Appellants: - Dr. U.K. Chaudhary, Senior Advocate with Mr. S. Santanam Swaminadhan, Ms. Nishtha Khurana and Mr. Himanshu Vij, Advocates.

ORDER

23.03.2018- After some arguments, learned Senior Counsel for the

Appellants prays to withdraw the appeal with prayer to direct the

National Company Law Tribunal (hereinafter referred to as "Tribunal"),

Bengaluru Bench, Bengaluru, to dispose of both the Company Petitions

Nos. 59 of 2014 and 9 of 2016 together expeditiously along with

Interlocutory Applications, if any, pending, as both the Company

Petitions have been preferred by common Petitioners and majority of the

Respondents are common.

Taking into consideration the facts and circumstances of the case,

while we do not express any specific opinion with regard to the

impugned order dated 19th January, 2018, which may otherwise affect

the merit of the claim and counter claim made by the parties, we allow

the Appellants to withdraw this appeal with directions to the parties not

Contd/-..............

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to ask for unnecessary adjournments in both the Company Petitions as

one of the Company petition is pending since 2014 and the other

Company Petition is pending since 2016 and in terms of Section 422 of

the Companies Act, 2013, the Tribunal is required to dispose of the

matter preferably within three months. The Tribunal is expected to hear

both the Company Petitions together, as the parties are common and

relates to the same very company. It is expected that the Company

Petitions will be disposed of on an early date preferably within three

months.

The appeal is disposed of as withdrawn with aforesaid

observations and directions to the parties.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice Bansi Lal Bhat) Member(Judicial) Ar/uk

Company Appeal (AT) No. 86 of 2018