2022 (2) TMI 1019 - AT - Companies Law

Maintainability of application - application seeking stay for holding of EGM are pending in the main company petitions before the Tribunal - HELD THAT - Ongoing through the impugned order of the Tribunal, this Appellate Tribunal based on the facts and circumstances of the case is of the considered opinion that the same, does not require any interference, because of the fact that this Tribunal is of the considered view, despite the maintainability application being filed in regard to the issue of validity of the Company Petition, being filed by the concerned party, yet the Tribunal under the Companies Act, 2013 has an inbuilt inherent power, especially, in the teeth of Section 242 (m) of the act, to pass an order of admission and further, passing of an order of admission of Main Company Petition will not preclude the Tribunal to take up the maintainability of the application at a subsequent stage or to take up the same together with the main Company Petition as it deems fit and proper. This Tribunal comes to an irresistible and inevitable conclusion that the instant Appeal sans merits and it fails - Appeal dismissed.

Summary

Issues:
1. Admission of company petitions despite pending maintainability application.
2. Interim relief and admissibility of the case.
3. Appellant's grievance regarding the listing of matters.
4. Tribunal's decision and interference in the impugned order.
5. Tribunal's direction for completion of pleadings.

Analysis:
1. The National Company Law Tribunal, Jaipur Bench, observed issues related to interim relief and admissibility in CP No. 194/241/JPR/2020 & CP No. 01/241-242/JPR/2021. The Tribunal granted status quo in CP No. 01/241-242/JPR/2021 but refrained from granting other interim reliefs due to the complexity of the case and non-cooperation between the parties. The Tribunal directed completion of pleadings in both CPs and CAs for a comprehensive hearing and disposal of the matter.

2. The Appellant raised concerns about the Tribunal listing multiple matters, including Company Applications and Main Company Petitions, without addressing the maintainability of the main Company Petition. The Appellant argued that the Tribunal's decision to admit the company petitions despite pending applications caused prejudice. The Respondents, however, supported the Tribunal's order, stating their intent to file replies before the next hearing.

3. The Tribunal, after hearing both parties, noted the pendency of maintainability applications but proceeded to admit the company petitions. The Tribunal emphasized that the Companies Act, 2013, grants inherent power to pass orders of admission, allowing subsequent consideration of maintainability applications alongside the main Company Petition.

4. Upon reviewing the impugned order, the Appellate Tribunal found no grounds for interference, considering the inherent power of the Tribunal under the Companies Act, 2013. The Appellate Tribunal concluded that the instant appeal lacked merit and dismissed Comp. Appeal (AT) No. 117 of 2021 without costs.

5. As a parting directive, the Tribunal instructed the Respondents to file counters to the main Company Petitions and Company Applications promptly. The Tribunal emphasized the completion of pleadings before the next hearing date to ensure timely progress in the case, emphasizing adherence to legal procedures and the pursuit of justice.

Conclusion:
The judgment addressed issues of interim relief, maintainability, and the Tribunal's inherent power under the Companies Act, 2013. The Appellate Tribunal upheld the original decision, dismissing the appeal and emphasizing the completion of pleadings for a comprehensive resolution of the case.