National Company Law Appellate Tribunal
Uday Ved vs Union Of India on 12 November, 2025
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
PRINCIPAL BENCH, NEW DELHI
Comp. App. (AT) No. 254 of 2024
IN THE MATTER OF:
Uday Ved ...Appellant
Versus
Union of India ...Respondents
Present:
For Appellant : Mr. Kunal Mehta, Mr. Yogesh Chawak, Mr. Sameer
Abhayankar, Ms. Soumya Srinivasan, Mr. Krishna
Rastogi, Mr. Aryan Srivastava, Mr Yash Tandon, Mr
Harshit Chaudhary, Advocates.
For Respondents : Mr. Aditya Sikka, Ms Onshi Jakhar, Ms. Yuganshi
Singh, Advocates.
ORDER
(Hybrid Mode) 12.11.2025 Heard Ld. Counsel for the Appellant as well as Ld. Counsel for the Respondent.
2. This Appeal has been filed against the order dated 20.06.2024 passed by National Company Law Tribunal, Mumbai Bench-I, by which the CA No. 121/2022 filed by the Appellant to recall/review the order judgment dated 18.07.2019 has been dismissed in Company Petition No. 3638/2018 filed under Section 241 and 242 of the Companies Act 2013. An order was passed by the NCLT dated 18.07.2019 directing impleadment of the several persons including the Appellant on second SFIO Investigation Report. 1
3. The Appeal was filed by the Appellant and the certain other individuals challenging the orders dated 18.07.2019, Appellant has filed Company Appeal No. 215/2019 Uday Ved Vs. Union of India. All the appeals including the appeal of the Appellant came to be heard and dismissed by this Tribunal vide judgment dated 04.03.2020. Appeals were filed in the Hon'ble Supreme Court challenging the said order. Appeal was filed by the Appellant, Civil Appeal No. 3014/2020 which appeal was dismissed as withdrawn on 05.04.2021. After dismissal of the appeal on 05.04.2021 by the Hon'ble Supreme Court Appellant filed the CA No. 121/2022 praying for recall/review of the judgment order dated 18.07.2019 with other reliefs which has been dismissed by the NCLT.
Learned Counsel for the Appellant challenging the orders submits that the order dated 18.07.2019 by which impleadment was directed on the basis of fact that independent directors were in the Audit Committee whereas Appellant was only independent director and was not in the Audit Committee and his impleadment could not have been made. He further submits that two other independent directors who were impleaded namely Neera Saggi and Renu Challu have filed the Appeal in the Supreme Court in Civil No. 2841/2020 and 3531/2020 which appeals have been decided by order dated 15.02.2021 remanding the matters of Neera Saggi and Renu Challu. It is submitted that Appellant's case was similarly situated to those Neera Saggi and Renu Challu and the appeal filed by the Appellant was withdrawn from the Supreme Court. Hence, Application ought to have considered on the merits by the NCLT and Adjudicating Authority committed error. 2
Learned Counsel appearing for the Respondent submits that the Application which was filed by the Appellant in CA No. 121/2023 before NCLT was not maintainable to recall/review order dated 18.07.2019. It is submitted that order 18.07.2019 was challenging in appeal before the NCLAT which appeal was dismissed. Hence, the order dated 18.07.2019 merged with the order of this Tribunal and the fact that Civil Appeal filed against the said order was also dismissed as withdrawn shall have no effect on the merger and the application was clearly not maintainable to recall the order 18.07.2019. It is further submitted that the sheet anchor of the argument of the Appellant is order of the Supreme Court in Neera Saggi and Renu Challu whereas the said judgment was decided on 15.02.2021 and after the said judgment appeal of the Appellant was taken and appellant was directed to file an affidavit and after considering the said affidavit the order dated 05.04.2021 was passed in the Appellant's appeal permitting it to be withdrawn. Thus, Supreme Court itself looked into the order passed by the Supreme Court in Neera Saggi and Renu Challu case.
We have considered the submissions of the Learned Counsel for the parties and perused the record. Vide order dated 18.07.2019 the Appellant was impleaded in proceedings under Section 241 and 242 filed by the Union of India on the basis of SFIO Investigation Report. Appellant filed an appeal and challenged the said order which appeal came to be dismissed by judgment of this Tribunal which Appeal No. 215/2019 came to be dismissed by this Tribunal on 04.03.2020. Against the said order appeal was filed in Supreme Court by the Appellant in the Supreme Court which has been 3 dismissed as withdrawn. The order of this Supreme Court on 05.04.2025 is as follows:
1. Mr. K V Vishwanathan, Learned Senior Counsel appearing on behalf of the Appellant states that Mr T R B Sivakumar, Advocate on Record has written instructions to the effect that the appellant would withdraw the present appeal in order to enable him to pursue appropriate remedies in accordance with law before the National Company Law Tribunal.
2. The Civil Appeal is dismissed as withdrawn in the above terms. This Court has expressed no opinion with respect to any of the proposed remedies on which the rights and contentions of the parties are kept open.
4. The order passed by the Supreme Court clearly indicate that the appeal was dismissed as withdrawn on the statement made by Counsel for the Appellant that Appellant could withdraw the present appeal in order to enable him to pursue the appropriate remedy in accordance with law before the National Company Law Tribunal. The Supreme Court dismissed the appeal as withdrawn but has further observed that it is not expressing an opinion with respect to any of the proposed remedies in which the right contentions of the parties are kept open. The first argument which has been raised by the Respondent is that Application which was filed by the Appellant in CA No. 121/2022 was not maintainable to recall and review the order dated 18.07.2019. When the order passed by NCLT dated 18.07.2019 was challenged by the Appellant in Company Appeal in 215/2019 which appeal 4 was heard and dismissed on merits by this Tribunal. The order dated 18.07.2019 has merged with the Appellate Order and mere fact that appellant filed an appeal in the Supreme Court which was withdrawn shall have no effect on the merger of the order dated 18.07.2019 with the Appellate order.
Order dated 18.07.2019 does not continue to available to the appellant for filing any application to review or recall the judgment. On this ground, we are of the view that order rejecting the CA No. 121/2022 has to be upheld. Moreover, the Counsel for the Appellant has made much emphasis on the order passed by Supreme Court in cases of Neera Saggi and Renu Challu. The judgment of the Supreme Court in Company Appeal of Neera Saggi and Renu Challu was delivered by the Supreme Court on 15.02.2021 in Civil Appeal No. 2841/2020. The appeal was allowed and matter was remanded for NCLT to apply its mind and issue as to whether the Appellant was to be impleaded. When the appeal of the Appellant came for consideration on 12.03.2021. The Reliance was placed by the Counsel for the Appellant on the judgment of the Supreme Court dated 15.02.2021 in Neera Saggi and Renu Challu and Supreme Court directed the Appellant to file an affidavit making specific disclosure as directed by the Supreme Court.
5. Appellant thereafter filed an affidavit and it was only thereafter on 05.04.2021 the appeal was dismissed as withdrawn. Thus, the arguments which is pressed before us that in the similar matters, the Supreme Court in Neera Saggi and Renu Challu has remanded the matter was raised before the Supreme Court itself and in spite of the said judgments the appeal was prayed to be withdrawn and has been dismissed and withdrawn. We are of the view 5 that the above submissions also does not help the Appellant in the present case. We do not find any merit in the appeal, the appeal is dismissed.
[Justice Ashok Bhusan] (Chairperson) [Barun Mitra] Member (Technical) MT/MD 6