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TMI Blog2023 (2) TMI 1036X X X X Extracts X X X X X X X X Extracts X X X X ..... National Company Law Tribunal (hereinafter 'NCLT') dated 6th January, 2023. In view of the fact that the reply of the Petitioner to the Section 7 Petitioner under the IBC, filed by the Respondent, was under objection, the NCLT closed the right to file the reply. On the same day the arguments have been heard and the order has been reserved. 4. Ld. counsel for the Petitioner submits that there was a delay in filing the reply, however, the same is not deliberate as it was only under objections and an opportunity may be given to the Petitioner to plead its case before the NCLT. 5. On behalf of the Bank, it is submitted that the Order dated 6th January, 2023 is an appealable order before the National Company Law Appellate Tribunal ('NCLAT'). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts cited by the NCLAT and the principle contained therein applied while deciding that period of fourteen days within which the adjudicating authority has to pass the order is not mandatory but directory in nature would equally apply while interpreting proviso to sub-section (5) of Section 7, Section 9 or sub-section (4) of Section 10 as well. After all, the applicant does not gain anything by not removing the objections inasmuch as till the objections are removed, such an application would not be entertained. Therefore, it is in the interest of the applicant to remove the defects as early as possible. " And in the Judgment passed by the Hon'ble NCLA in the matter of Innovative Industries Vs ICICI Bank reported in 2018 1 SCC 407, the P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n to the Petitioner to file a reply. The said order reads as under: "Ld. Counsel for the petitioner seeks time to file the hard copy of the pleadings. Ld. Counsel for the CD seeks time to file the reply. List the matter again on 30. 11.2022." 8. It is to be noted that in this order, no specific time has been given to file the reply and the matter has been adjourned to 30th November, 2022. Reply is stated to have been filed by the Petitioner on 29th November, 2022 i.e. before the next date of hearing. On 30th November, 2022, due to paucity of time, the matter is adjourned to 21st December, 2022. The said order is extracted below: "Due to paucity of time, we are inclined to adjourn the matter for physical hearing on 21.12.2022. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Abhishek Gusain, Ld. Counsel for the respondent appeared. Notice was issued to the respondent on 17.10.2022. After service, it appears that the respondent has filed reply and served it on the petitioner's counsel but the copy of the same has not been filed before the NCLT and when the query was raised to the counsel as to whether there is a date on which the reply was filed to the section 7 petition, he is unable to give a date or proof of the same to NCLT. Ld. Counsel for the respondent informed us that the reply has been filed vide diary No. 0710102074302022 on 29.11.2022. We find from the DMS that it is still continues under scrutiny and the respondent has not chosen to rectify the defects so as to bring it on record. This shows the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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