# In the matter of Shri Fidaali Moiz Mithiboewala & Anr. Vs. Aceros Fortune Pvt. Ltd. & Ors. CA (AT) No. 212-2018

> NCLAT judgment dated 2018-07-26. Citation: TCN-2018-NCLAT-00186. The Appellants filed an application under Section 59 read with Sections 397 & 398 of the…

- **Court:** NCLAT
- **Order date:** 26 Jul 2018
- **Citation:** TCN-2018-NCLAT-00186
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shri-fidaali-moiz-mithiboewala-anr-vs-aceros-fortune-pvt-ltd-ors-ca-1b3fe402

## Summary

### Background

The Appellants filed an application under Section 59 read with Sections 397 & 398 of the Companies Act, 1956 before the Company Law Board in 2015, which was later transferred to the NCLT, Mumbai. The counsel for the appellants failed to appear on May 2, 2017, leading to the dismissal of the petition. Subsequently, the Applicants filed Miscellaneous Applications on May 8, 2017, seeking recall and modification of the order(s) dated May 2, 2017. The Adjudicating Authority refused to restore the petitions, considering the NCLT Rules. The Tribunal noted that amendment applications by the Appellants were dismissed earlier on February 6, 2017, and the Appellants were delaying the case by challenging orders before the Appellate Tribunal or the Supreme Court and not

…

## Facts

The Appellants initially filed an application under Section 59 read with Sections 397 & 398 of the Companies Act, 1956 in 2015. The case was transferred to NCLT Mumbai. The Appellants' counsel failed to appear on May 2, 2017, resulting in the dismissal of the petition. The Appellants then filed Miscellaneous Applications on May 8, 2017, to recall and modify the dismissal order. The Adjudicating Authority rejected the restoration of the petitions. The Tribunal observed that the Appellants had previously filed amendment applications that were dismissed on February 6, 2017. The Appellants challenged orders before the Appellate Tribunal or the Supreme Court, causing delays. The Respondent's counsel pointed out that the Appellants filed multiple applications and made

…

## Issues and analysis

### Issue 1: Whether the Tribunal erred in dismissing the appeals due to the Appellants' delaying tactics and …

**Ratio:** The principle that courts and tribunals have the inherent power to dismiss cases for want

…

**Reasoning:** The Tribunal reasoned that the Appellants' repeated absences, unsuccessful challenges to

…

**Interpretation:** This issue involves the interpretation of the Tribunal's powers to manage its

…

**Application:** The ratio and reasoning were applied to the specific facts of the case, where

…

## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Fidaali Moiz…
- **Respondents:** Aceros Fortune…

## Timeline

- **2015-01-01 — Application…**: Appellants filed application under Section 59 read with Section 397 & 398 of the…
- **2017-02-06 — Amendment Applications…**: Amendment applications moved by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 59 — Voluntary liquidation of corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-59)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/shri-fidaali-moiz-mithiboewala-anr-vs-aceros-fortune-pvt-ltd-ors-ca-1b3fe402