National Company Law Appellate Tribunal
Balwant Singh Kanda vs Kanda Auto Private Limited on 19 January, 2022
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) No. 172 of 2020
In the matter of:
Balwant Singh Kanda ....Appellant
Vs.
Kanda Auto Pvt. Ltd. & Ors. ....Respondents
Present
For Appellant: Mr. Satyavikram, Advocate.
For Respondents: Mr. Shekhar Gupta, Mr. Kamal Khatta, Ms. Ambika
Singh Prasad, Mr. Mittal B. Nor & Mohd. Shahbaz,
Advocates.
ORDER
(Virtual Mode) 19.01.2022: In terms of the Order dated 17.11.2021 Learned Counsel for the Parties has filed their Written Submissions, which are taken on record.
2. Heard Learned Counsel for the Appellant and Respondents.
3. Learned Counsel for the Appellant has preferred this Appeal being aggrieved and dissatisfied by the Impugned Order dated 28.02.2020 passed by the Learned Adjudicating Authority (National Company Law Tribunal, Court-1, Mumbai Bench) in MA 343/2020 in C.P. 743/241-242/2017.
4. After hearing both the parties the Learned Adjudicating Authority had passed the following orders :-
"B:- The Counsel for the Respondent No. 2 submitted that according to the arbitration award, the property in question belongs to R 2 and the same is not refuted by the applicant and moreover the property is in the name 2 of Respondent No. 2 and not in the name of Respondent No. 1 company.
c. The matter was already settled at least to the extent of this property as early as in 2012 itself.
d. We are unable to accept the argument of the counsel for Applicant that if the Respondent is not restrained from selling the property, he may start selling the property of R1. This bench cannot order interim protection based on hypothetical situation projected by the counsel for the Applicant.
e. The Applicant has not established the existence of prima facie case necessitating interim protection as sought for.
9. In view of the above discussion, this application is dismissed".
5. From the perusal of the record it appears that the main Application that Company Petition No. 743/ 2017 is still pending before the Hon'ble National Company Law Tribunal, Mumbai Bench and we have been informed by the parties that the next date of the hearing in this case is 27.02.2022.
6. The Appellant has preferred this Appeal against the Impugned Order dated 28.02.2020 passed by the NCLT, whereby, the Hon'ble Tribunal dismissed this application in MA No. 343/ 2020.
7. As the main Petition i.e. Company Petition No. 743/ 2017 is listed before the NCLT, Mumbai Bench is to be decided on merits, we disposed off this Comp. App. (AT) No. 172 of 2020 3 Appeal with the direction to the Hon'ble NCLT, Mumbai Bench to expedite the disposal of the Company Petition No. 743/ 2017 at an early date. As this an old matter and the Tribunal while hearing the main appeal i.e. Company Petition No. 743/ 2017 we will not prejudiced by any observation made in the Impugned Order passed by Learned Adjudicating Authority.
8. Hence, the Appeal stands disposed off.
9. The Registry is directed to upload this Order on the website of this Appellate Tribunal.
10. Registry is directed to send a copy of the Order to the National Company Law Tribunal, Mumbai Bench.
[Justice Anant Bijay Singh] Member (Judicial) [Ms. Shreesha Merla] Member (Technical) Sim/ Kam Comp. App. (AT) No. 172 of 2020