National Company Law Appellate Tribunal (NCLAT): The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, member (Judicial) dismissed an appeal filed against the order of National Company Law Law Tribunal (Bengaluru).
By the impugned order, application filed under Section 8 of the Arbitration and Conciliation Act, 1996 preferred by respondents was referred to Arbitrator by NCLT. Nikhil Nayyar, Arun Srikumar, Kaustav Saha and Naveen Hegde, Advocates represented the appellants while challenging the impugned order.
The Appellate Tribunal followed its earlier judgment in Thota Gurunath Reddy v. Continental Hospitals (P) Ltd., Company Appeal (AT) No. 160 of 2017, dated 18-07-2018. In that case, the Appellate Tribunal has held that against the reference of the arbitration, no appeal lies before the NCLAT under Section 421 of the Companies Act, 2013. It was held that in such view of the matter, the appeal was not maintainable and thus it was dismissed. [Richa Kar v. Actoserba Active Wholesale (P) Ltd., 2019 SCC OnLine NCLAT 2, dated 11-01-2019]