Falcon Tyres Ltd. filed a writ petition in the High Court of Karnataka challenging an order passed by the National Company Law Tribunal (NCLT) at Bengaluru. The petitioner's grievance was that the NCLT admitted a petition without providing them an opportunity to be heard. The respondents, Edelweiss Asset Reconstruction Co. Ltd., filed counter-objections. The respondents conceded that the impugned order should be set aside and the NCLT should reconsider the matter after hearing both parties.
Falcon Tyres Ltd. filed a writ petition challenging an order by the NCLT. The NCLT order admitted a petition without giving Falcon Tyres a hearing. Edelweiss Asset Reconstruction Co. Ltd., the respondent, filed counter-objections but conceded that the NCLT order should be set aside and reheard after both parties were given a chance to present their case. The High Court considered the petition, the counter-objections, and the concession made by the respondents. The key fact is the lack of opportunity given to Falcon Tyres to be heard before the NCLT's initial order, which formed the basis of their grievance.
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The National Company Law Tribunal (NCLT)…
The High Court of Karnataka set aside the NCLT…
Falcon Tyres Ltd. filed a writ petition in the High Court of Karnataka challenging an order passed by the National Company Law Tribunal (NCLT) at Bengaluru. The petitioner's grievance was that the NCLT admitted a petition without providing them an opportunity to be heard. The respondents, Edelweiss Asset Reconstruction Co. Ltd., filed counter-objections. The respondents conceded that the impugned order should be set aside and the NCLT should reconsider the matter after hearing both parties.
Falcon Tyres Ltd. filed a writ petition challenging an order by the NCLT. The NCLT order admitted a petition without giving Falcon Tyres a hearing. Edelweiss Asset Reconstruction Co. Ltd., the respondent, filed counter-objections but conceded that the NCLT order should be set aside and reheard after both parties were given a chance to present their case. The High Court considered the petition, the counter-objections, and the concession made by the respondents. The key fact is the lack of opportunity given to Falcon Tyres to be heard before the NCLT's initial order, which formed the basis of their grievance.
The National Company Law Tribunal (NCLT)…
The High Court of Karnataka set aside the NCLT…