National Company Law Appellate Tribunal
Saurabh Kumar Tikmani Resolution ... vs M/S Nrsks Mines And Minerals Pvt Ltd on 28 June, 2024
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
AT CHENNAI
(APPELLATE JURISDICTION)
TA (AT) No. 249/2021
(Company Appeal (AT) (Ins) No. 904/2020)
In the matter of :
Saurabh Kumar Tikmani
Resolution Professional
Lanco Amarkantak Power Ltd. ...Appellant
V
M/s. NRSKS Mines and Minerals Pvt. Ltd. ...Respondent
Present:
For Appellant : Mr. Ayush Mitruka, Advocate
For Respondents : No Appearance
ORDER
(Hybrid Mode) 28.06.2024:
For the last couple of hearings, the Respondent has not been appearing in the instant Company Appeal. Even none is present today. The Learned Counsel for the Appellant is present & he states that owing to the Interim Orders passed by this Tribunal, the purpose of preferring this Appeal by him has been achieved because he has been able to undertake and to conclude the fresh bidding process and the consequences thereto. The contract has been executed and ultimately the tenure of the contract too has expired. The Learned Counsel for the Appellant further submits that certain findings have been recorded in the Impugned Order vide Para 8 & 9 which, though not personally against the Appellant herein, still continue to have some bearing T.A. (AT) No. 249/2021(CA (AT) (Ins) No.904/2020) Page 1 of 2 with regards to the performance of the contract which he has executed and these comments are to be addressed suitably. In this connection it is opined that the observations made in Para 8 & 9 with regards to the performance of the contractual liability would be read only for the purpose of the instant disputed contract which was subject matter of consideration before the NCLT and ultimately before this Tribunal in this Company Appeal. The observations in Para 8 & 9 relate to the then contractual process, which was subsequently proceeded with by the Appellant and they will not be creating any embargo as such, as against the action of Appellant. Owing to the fact that the process has already been completed and ultimately the term of the subsequent contract too has run its full course, for all practical purposes the Company Petition has been rendered infructuous. Accordingly, the Company Appeal would stand dismissed as having rendered infructuous.
[Justice Sharad Kumar Sharma] Member (Judicial) [Jatindranath Swain] Member (Technical) RO/TM T.A. (AT) No. 249/2021(CA (AT) (Ins) No.904/2020) Page 2 of 2