Adjudicating Authority have the power to set aside an ex-parte Order provided, it is satisfied that there was sufficient cause with respect to service of Notice – AKJ Fincap Limited Vs. Bank of India – NCLAT New Delhi
Aggrieved by the Impugned Order dated 09.12.2020, passed by the Learned Adjudicating Authority filed by M/s. AKJ Fincap Limited, Appellant herein, inter alia seeking setting aside of the ex-parte Order dated 18.03.2020, preferred these Appeals. The Adjudicating Authority dismissed the IA on the ground that the Tribunal has no power to review or set aside its own Company Petition Admission Order as per settled proposition of law.
NCLAT set aside the order and held that the Adjudicating Authority had the power to set aside an ex-parte Order provided, it is satisfied that there was sufficient cause with respect to service of Notice, as provided in Rule 49(2) of the NCLT Rules, 2016, it is noted that the Appellant herein is silent about the service of Notice which was affected upon them by e-mail. Hence, we find it a fit case to impose costs of Rs. 25,000/- on the Appellant to be paid to the Respondent before the next date of Hearing.
