Review Application – Power to rectify a mistake apparent from the record cannot be construed to confer a power on the Appellate Tribunal to reappraise material on record to substitute a finding – Anubhav Anil Kumar Agarwal Vs. Bank of India – NCLAT New Delhi
NCLAT held that a mere glance at Section 420 of the Companies Act, 2013 would reveal that the powers thereunder are exercisable by the ‘Tribunal’ defined under Section 2(90) which means the ‘National Company Law tribunal, constituted under Section 408’. This power is not specifically conferred on the Appellate Tribunal. That apart, power to rectify a mistake apparent from the record cannot be construed to confer a power on the Appellate Tribunal to reappraise material on record to substitute a finding. This would amount to usurping the jurisdiction vested in a court of appeal. The finding of fact may be erroneous but if the same is based on appreciation of evidence, reappraisal of material on record to arrive at a different finding changing the decision rendered on merit would be impermissible. Elaborating it to avoid confusion, it can be stated without any fear of contradiction that misreading of evidence / material or drawing of a wrong conclusion from it which involves application of mind, would not justify invoking of inherent powers to substitute that findings and alter the judgment.