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Matter remanded back to NCLAT as respondent failed to comply with procedure laid down under NCLAT Rules: SC

March 13, 2019[2019] 103 taxmann.com 157 (SC)
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CL : Stipulation of service of notice on other side, pursuant to issuance of notice by National Company Law Appellate Tribunal in an appeal, has to be complied with, regardless of supply of advance copy of appeal paper book prior to issuance of notice by NCLAT

• Instant appeal was directed against order passed by NCLAT whereby order of NCLT was set aside and NCLT was directed to admit application filed by respondent bank against company, under section 7 of Insolvency and Bankruptcy Code. On appeal by company before Apex court it was observed that since no notice was served upon company before NCLAT as stipulated under rules, and its right to be heard, audi alteram partem, had been violated, matter was to be remnded back to NCLAT for fresh consideration.

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