Whether in an application filed by a party before NCLT, the other party, contesting the application has a right to file reply? – Mr. Jasti Samba Siva Rao Suspended Director of Suspended Board of Directors of Madhucon Projects Ltd. Vs. Srei Equipment Finance Ltd. & Anr. – NCLAT Chennai
NCLAT held that as per rule 37(1) of NCLT Rules, 2016, notice is required to be issued in Form No. NCLT-5 by the Tribunal which shall accompany copy of the application with supporting documents. As per Rule 37(3), if the Respondent contest the notice received under Rule 37(1), it may either in person or through an authorised representative file a reply with affidavit and the documents relied upon with advance copy to applicant before the date of hearing. The present appeal is hereby allowed. Impugned order is set aside and the matter is remanded back to the Tribunal to decide the application.