The case involves a Company Appeal (AT)(CH)(INS) No.53/2021 before the National Company Law Appellate Tribunal (NCLAT), Chennai Bench. The initial judgment by Hon'ble Justice Mr. M. Venugopal, Member (Judicial), dismissed the appeal. However, Mr. V.P. Singh, Member (Technical), concluded that the petition under Section 9 of the I&B Code was not maintainable and opined that the appeal should be allowed and the admission of the petition filed under Section 9 of the I&B Code should be set aside. Due to this divergent opinion, the matter was referred to a third member.
Yogesh Kundra filed a Company Appeal (AT)(CH)(INS) No.53/2021 against SEW & Prasad Joint Venture & Anr. The initial judgment by a judicial member of the NCLAT dismissed the appeal. However, a technical member concluded that the petition under Section 9 of the I&B Code was not maintainable and favored allowing the appeal. This difference in opinion led to the nomination of a third member, Justice Mr. Jarat Kumar Jain, who concurred with the technical member's view. The 1st Respondent/Operational Creditor, being aggrieved by the third member's judgment, filed a Civil Appeal before the Supreme Court and requested an adjournment to obtain stay orders. The NCLAT ultimately allowed the appeal based on the majority opinion.
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Judgement dated 18.06.2021 in Company Appeal…
The Hon'ble Third Member, Justice Mr. Jarat…
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The case involves a Company Appeal (AT)(CH)(INS) No.53/2021 before the National Company Law Appellate Tribunal (NCLAT), Chennai Bench. The initial judgment by Hon'ble Justice Mr. M. Venugopal, Member (Judicial), dismissed the appeal. However, Mr. V.P. Singh, Member (Technical), concluded that the petition under Section 9 of the I&B Code was not maintainable and opined that the appeal should be allowed and the admission of the petition filed under Section 9 of the I&B Code should be set aside. Due to this divergent opinion, the matter was referred to a third member.
Yogesh Kundra filed a Company Appeal (AT)(CH)(INS) No.53/2021 against SEW & Prasad Joint Venture & Anr. The initial judgment by a judicial member of the NCLAT dismissed the appeal. However, a technical member concluded that the petition under Section 9 of the I&B Code was not maintainable and favored allowing the appeal. This difference in opinion led to the nomination of a third member, Justice Mr. Jarat Kumar Jain, who concurred with the technical member's view. The 1st Respondent/Operational Creditor, being aggrieved by the third member's judgment, filed a Civil Appeal before the Supreme Court and requested an adjournment to obtain stay orders. The NCLAT ultimately allowed the appeal based on the majority opinion.
Judgement dated 18.06.2021 in Company Appeal…
The Hon'ble Third Member, Justice Mr. Jarat…
Sign in to view related legal provisions.