The Chennai Bench of the National Company law Appellate Tribunal ( NCLAT ) dismissed an appeal filed alleging violation of NCLT ( National Company Law Tribunal ) by Byju’s investors.
The appeal has been filed before the ‘Tribunal’ by the appellants against the impugned order dated 23rd April 2024, as it has been passed by the Learned Adjudicating Authority, National Company Law Tribunal, Bengaluru as it was filed by Respondent No.1.
By virtue of the impugned order under challenge the Adjudicating Authority has answered the pleadings raised by the Appellant with regard to the issue and effect of the interim order which has been granted on 27.02.2024, contending thereof that in order to portray as to whether there was any violation of the order dated 27.02.2024, the appellant has been called upon to file an affidavit before the Learned Adjudicating Authority so that this contentions qua violation of interim order and its effect could be better appreciated as to whether at all there has been a violation of the impugned order.
The directive read that “In respect of the contentions raised by the Ld. Senior Counsels for the Petitioner Nos. 1 & 2, they are at liberty to file an Affidavit or an Application specifically stating the violations of this Tribunal’s Order dated 27.02.2024, within a period of one week, after duly serving the copy on the other side., The Respondent may submit their reply to the said Affidavit / Application, if they so desire, within a period of one week after receipt of the same.”
A Two-Member Bench of Justice Sharad Kumar Sharma, Member (Judicial) and Jatindranath Swain, Member (Technical) observed that “We are of the view, that as far as the Impugned Order is concerned, which is under challenge in the Appellant jurisdiction. In fact, we are of the view that since no material right has been crystalised by the Impugned Order and decided finally against the appellant, rather the Appellant has been called upon by the Adjudicating Authority only to file an affidavit to substantiate his argument of alleged violation of the interim order dated 27.02.2024, the Appeal would not be sustainable as his has been decided on merits effecting rights of the parties. Thus, the same is Dismissed”
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