2021 (4) TMI 1328 - SC - Companies Law

Maintainability of appeal - the submission which has been urged on behalf of the appellant is that the appeal before the NCLAT against an interlocutory order of the NCLT would interminably delay the final disposal of the proceedings before the NCLT. It has been submitted during the course of the hearing that one of the appellants is ninety-eight years old - HELD THAT - All that needs to be observed is that the NCLAT should dispose of the appeal against the interlocutory proceedings before the date which has been fixed for the hearing of the main proceedings before the NCLT. Appeal disposed off.

Summary

Issues:
1. Appeal arising from interlocutory proceedings before NCLAT.
2. Delay caused by appeal before NCLAT.
3. Efforts for amicable dispute resolution.
4. Hearing dates before NCLAT and NCLT.
5. Disposal of appeals and pending applications.

Analysis:
1. The Supreme Court addressed an appeal arising from interlocutory proceedings before the NCLAT. The Court noted the issuance of notice in the appeal and decided not to intervene while proceedings were ongoing at the NCLAT, indicating no reason for immediate intervention.

2. The appellant raised concerns about the delay caused by the appeal before the NCLAT against an interlocutory order of the NCLT. It was highlighted that such an appeal might prolong the final disposal of proceedings, with one of the appellants being ninety-eight years old. However, the Court emphasized the need for the NCLAT to expedite the disposal of the appeal to avoid unnecessary delays.

3. Efforts for amicable dispute resolution were made by the parties, with an adjournment sought previously for such purposes. Despite the parties' commitment to resolving the dispute, no settlement had been reached. Consequently, the Court deemed further adjournments unnecessary and emphasized the need for timely proceedings.

4. Regarding the hearing dates, it was mentioned that the NCLAT had scheduled the appeal against the interlocutory order before the final hearing at the NCLT. This scheduling aimed to address the appellant's concerns about potential delays in the proceedings. The Court stressed the importance of the NCLAT disposing of the appeal promptly before the main proceedings at the NCLT.

5. The appeals were ultimately disposed of by the Court, with any pending applications also being resolved. The judgment concluded by indicating the closure of the appeals and associated applications, bringing an end to the legal proceedings before the Supreme Court.