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TMI Blog2019 (12) TMI 288X X X X Extracts X X X X X X X X Extracts X X X X ..... Company, wherein realisable value to the loan is shown as 1.14 Crores instead of 7.58 Crores, which was to be received from 'Doloo Tea Company (India) Limited - However, the order of the Tribunal dated 24th January 2019 was appealable order, but no appeal is preferred against that order. But the Appellant intends to challenge the order dated 24th January 2019 by filing the review application under the guise of Section 420(2) of the Companies Act, 2013, which is not permissible under Law. There is no error in the impugned Order passed by the National Company Law Tribunal, Kolkata Bench - Appeal dismissed. - Company Appeal (AT) No. 146 of 2019 - - - Dated:- 5-12-2019 - Mr. A.I.S. Cheema Member (Judicial), Mr. Kanthi Narahari Me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passing of the order dated 24th January 2019. According to the Appellant / Petitioner those facts were crucial and necessary for the fair consideration of the petition, and in the absence of those facts the Tribunal was prevented from framing correct observations about the lost assets in issue. The Tribunal held that the reconsideration of the earlier order dated 24th January 2019 would amount to review of the earlier order whereby direction was given to the Appellant / Petitioner to comply with the provisions of Section 131 read with Section 128(1) of the Companies Act, 2013. The Tribunal rejected the application on the premise that the Tribunal not being a Civil Court, has no power or authority to review its earlier order, even ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contrary to Section 128(1) of the Companies Act, 2013. 'Prithvi Tea Company Pvt. Ltd. (hereinafter referred to as Transferor Company) and 'Cachar Tea and Industries Private Limited' (Transferee Company) filed a Scheme of Arrangement before the National Company Law Tribunal, Kolkata Bench for demerger of Investment undertaking of the Transferor Company under Section 230(1) read with Section 232 of the Companies Act, 2013 and Rule 15 and other applicable rules of the Companies (Compromise, Arrangements and Amalgamations) Rules, 2016. The application for the first motion, bearing C.A. (CAA) NO. 86/KB/2018, praying for dispensation of convening meeting of the members and creditors of the Transferor Company and the Reporti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h January, 2019 is not under-challenge in this appeal. The Appellant has filed this Appeal only against the order dated 24th April 2019, whereby the National Company Law Tribunal, Kolkata Bench refuses to review the detailed order passed on 24th January, 2019 based on Supplementary Affidavit filed on 25th March, 2019. The Tribunal rejected the review application on the ground that the Tribunal has power and authority to review its order or to amend the order, if any, mistake is brought to the notice by the parties. But by the impugned order the Appellant wants to review the detailed order dated 24th January, 2019 which is not permissible under the law; hence Tribunal rejected the application filed by the Appellant. It is important ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other relevant papers in electronic mode in such manner as may be prescribed. Every Company must keep relevant Books or Papers and Financial Statements for every Financial year which give a true and fair value of the state of the affairs of the Company. The National Company Law Tribunal found discrepancies, in the statements of balance sheet of the Transferor Company, wherein realisable value to the loan is shown as 1.14 Crores instead of 7.58 Crores, which was to be received from 'Doloo Tea Company (India) Limited. However, the order of the Tribunal dated 24th January 2019 was appealable order, but no appeal is preferred against that order. But the Appellant intends to challenge the order dated 24th Janu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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