2017 (6) TMI 1212 - HC - Insolvency and Bankruptcy

Admitting the petition without providing opportunity to the petitioner and without hearing the petitioner herein in that regard - Held that - The respondents have filed their additional counter/objections. Though the contentions as put forth is referred to therein the respondents in the light of having a consideration of the matter including the question relating to admission of the petition before the National Company Law Tribunal (for short NCLT ) have conceded that the order impugned at Annexure A be set aside and the NCLT be directed to reconsider the matter afresh by hearing the learned counsel for both the parties before considering the admission of the petition before it. The NCLT is directed to provide opportunity of hearing to the learned counsel for all the parties before it and thereafter consider the petition in accordance with law including on the issue relating to the admission of the petition before it.

Issues:
Maintainability of the petition, Opportunity for hearing before admission of the petition before the National Company Law Tribunal (NCLT), Setting aside the impugned order, Direction to NCLT for reconsideration with hearing, Protraction of litigation, Providing opportunity for all parties to be heard, Expeditious consideration of contentions.

Maintainability of the petition:
The judgment addresses the issue of maintainability raised in the instant petition. It notes that a detailed consideration on merits is not required, leaving the question of maintainability open to be considered in an appropriate petition if the question of law arises for consideration.

Opportunity for hearing before admission of the petition before NCLT:
The petitioner challenges the order admitting the petition, alleging that it was passed without providing an opportunity to be heard. The respondents, in their additional counter/objections, acknowledge the lack of opportunity given and concede to setting aside the impugned order. They agree that the NCLT should reconsider the matter afresh by hearing the learned counsel for both parties before deciding on the admission of the petition.

Setting aside the impugned order and Direction to NCLT for reconsideration with hearing:
The judgment sets aside the order at Annexure 'A' based on the concession of the respondents. This decision is made to resolve the issue raised in the petition, ensure the rights of the parties are unaffected, and prevent protraction of the litigation. The NCLT is directed to provide an opportunity for all parties' counsel to be heard before considering the petition, ensuring compliance with the law.

Protraction of litigation and Providing opportunity for all parties to be heard:
By setting aside the impugned order and directing a fresh consideration with a hearing, the judgment aims to prevent unnecessary prolongation of the legal process. It emphasizes the importance of allowing all parties to present their arguments before the NCLT to ensure a fair and just decision.

Expeditious consideration of contentions:
The judgment concludes by stating that all contentions are left open to be considered in an expeditious manner. This directive underscores the need for a timely and efficient resolution of the issues raised in the petition, promoting a swift adjudication process.

In summary, the judgment addresses the maintainability of the petition, the lack of opportunity for hearing before admission of the petition before the NCLT, sets aside the impugned order, directs the NCLT to reconsider with a hearing, emphasizes avoiding protraction of litigation, provides an opportunity for all parties to be heard, and emphasizes expeditious consideration of all contentions.

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