order promulgated by the NCLT, I produce Rule 11 of the NCLT Rules, 2016:
"11. Inherent Powers.- Nothing in these rules shall be deemed ... inherent powers of the
NCLT under Rule 11 of the NCLT Rules, 2016 do not permit the NCLT to
pass the impugned order.
Analysis
along with the
constitution of the NCLT. The NCLT has been vested with
powers that are far reaching in respect of management and
administration ... NCLT, because of the amount of time
which had already lapsed in the suit. However, the definitive ruling
apropos the NCLT having wide powers
contention of the appellant is that NCLT or Board of Directors on
instructions from NCLT has not power to modify the Scheme as approved ... right, the NCLT has
to approve. We are not satisfied with the argument of the appellants that the
NCLT has no power.
39. Thus
applicant is to go before NCLT and the NCLT, without
understanding the scope and purport of its inherent power and the
contents of the applications ... Apex Court of India had dealt with the jurisdiction
and the powers of NCLT. There cannot be any difficulty in accepting the
proposition laid down
Vidarbha Industries Power Limited vs Maharashtra Electricity Regulatory ... on 15 September, 2020
IN THE APPELLATE
aside.
24. The Counsel for R-1 further submitted that NCLT has the
inherent power under Rule 11 of the National Company Law Tribunal
rules ... necessary to meet the ends
of justice." Hence the NCLT had the power and authority to make the
impugned order having found that
provisions in the Companies Act , exclusively
dealing with the jurisdiction and powers of NCLT."
hcs
29/43
wp.3396.19.doc
22. In paragraph ... resolution professional are entirely
different from the jurisdiction and powers of NCLT. In fact
Section 20(1) cannot be read in isolation
which deals with the
procedure regulating the proceedings before the NCLT, the
powers vested in the Civil Court under the CPC are conferred on
NCLT ... submission is, that the power of NCLT is indeed
broader and wider than the power which can be exercised by the
Civil Court, since
application was filed and other entities have raised their issues before the
NCLT itself. He further submits that despite receiving the notice in the
avoidance ... date of approval of
Resolution Plan. The NCLT has very wide powers under Sections 43 and 44
of the IBC and thus depending upon
Affairs moved application before NCLT, there was
no need for Central Government to do it and there was no
power with it to appoint company ... NCLT is a judicial
tribunal.
55--- NCLT rules particularly rule 34, 39, 40,47 and 52 are
pressed into service to point out the powers
