2022 (10) TMI 1274 - AT - Companies Law

Recovery of outstanding dues - although the Appellant was served notice but no reply was filed - HELD THAT - In pursuance of the order dated 15.09.2022 an Additional-Affidavit has been filed by the Appellant by which the e-mail sent by the Resolution Professional on 27.05.2022 has been brought on the record. The Resolution Professional by e-mail has communicated to the Appellant that there are no outstanding dues of the Appellant and the accounts/ ledger have been reconciled. The direction issued in the impugned order insofar as Appellant is concerned are set aside - Appeal disposed off.

Summary

The National Company Law Appellate Tribunal, in a case where the Appellant was Respondent No.14, overturned an order by the Adjudicating Authority allowing an Application under Sections 66, 68, 69 & 70. The Appellant claimed not to have been served notice and therefore did not file a reply. The Tribunal, after considering a delay condonation application, ultimately found in favor of the Appellant based on communication from the Resolution Professional confirming no outstanding dues. As a result, the direction in the impugned order was set aside, and the Appeal was disposed of accordingly.