Akshaya Irrigation Products Pvt. Ltd.

An order of the Hon’ble High Court shall be binding on the Adjudicating Authority (Tribunal) established under Section 419(4) of the Companies Act, 2013 exercising Territorial Jurisdiction – M/s. Indra Marshal Power Pvt. Ltd. Vs. M/s. Akshaya Irrigation Products Pvt. Ltd. – NCLAT Chennai

NCLAT held that an Order of the Hon’ble High Court passed in a given case shall be binding on the Adjudicating Authority (Tribunal) established under Section 419(4) of the Companies Act, 2013 exercising Territorial Jurisdiction. To put it differently, the propriety, sobriety and the comity of judicial discipline require an Adjudicating Authority (Tribunal) is to follow the Order of the Hon’ble High Court in true letter and spirit and without any deviation, whatsoever. No wonder, an order / decision, is an Authority for what it actually decides. It is highly inappropriate and impermissible for an Adjudicating Authority (Tribunal) not to follow the Order, passed by the Hon’ble High Court.

An order of the Hon’ble High Court shall be binding on the Adjudicating Authority (Tribunal) established under Section 419(4) of the Companies Act, 2013 exercising Territorial Jurisdiction – M/s. Indra Marshal Power Pvt. Ltd. Vs. M/s. Akshaya Irrigation Products Pvt. Ltd. – NCLAT Chennai Read Post »

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