Case Note & Summary
The dispute arose in the context of a company petition pending before the National Company Law Tribunal (NCLT) involving N.K. Proteins Pvt. Ltd. as the appellant and the Union of India through the Serious Fraud Investigation Office (SFIO) as the respondent. The appellant filed an application, I.A. No. 931 of 2020, concerning the maintainability of the company petition. The impugned order dated 20.06.2024 directed the withdrawal of this application. During the hearing on 08.05.2026, the appellant's counsel submitted that since the application had been finally heard and was reserved for orders, the appeal had become infructuous and requested permission to withdraw it. The Tribunal also heard the counsel for the Union of India. Ultimately, the Tribunal dismissed the appeal as withdrawn and disposed of the pending interim applications. The Tribunal clarified that the order directing the withdrawal of I.A. No. 931 of 2020 would not impede the decision on that application. The final decision was that the appeal stands dismissed as withdrawn.
Headnote
A) Company Law - Withdrawal of Appeal - Dismissal of Appeal as Withdrawn - Companies Act, 2013 - The appellant sought to withdraw the appeal as the application regarding maintainability had been finally heard and reserved for orders, rendering the appeal infructuous. The Tribunal allowed the withdrawal of the appeal and dismissed it accordingly, ensuring that the withdrawal order would not affect the pending application. Held that the appeal stands dismissed as withdrawn (Paras 3-5).
Issue of Consideration
Whether the appeal should be allowed to withdraw due to the infructuous nature of the application.
Final Decision
The Tribunal dismissed the appeal as withdrawn and disposed of the pending interim applications.
Law Points
- Withdrawal of appeal
- Maintainability of company petition
- Disposition of interim applications
