2014 (11) TMI 1148 - HC - Companies Law

Appeal under section 10F of the Companies Act - Held that - Having heard the learned advocates appearing for the parties and upon perusing the application for stay along with the memorandum of appeal, it appears that in the facts and circumstances of the instant case the appeal is required to be heard. The appeal is, therefore, admitted for hearing and shall be heard on the basis of the papers which are already on record. All formalities for filing of paper books etc. stand dispensed with. The application for stay, however, is disposed of with an observation that the Company Law Board may continue hearing C. P. 23(Kol) of 2009, but shall not pass any final order therein without leave of this Court.

Summary

The High Court of Calcutta admitted an appeal under section 10F of the Companies Act. The court directed that the appeal will be heard based on existing records and dispensed with formalities for filing paper books. The application for stay was disposed of with a condition that the Company Law Board can continue hearing a specific case but cannot pass a final order without the Court's permission. The appeal was scheduled to appear after the Christmas vacation.