SHREE SAI PRAKASH ALLOYS PVT. LTD. Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) This order shall dispose of CRP Nos. 28, 29 and 30 of 2019 as according to the learned counsel for the parties the facts are identical in these revision petitions. The facts are being extracted from CRP No. 28 of 2019.

(2.) In CRP No. 28 of 2019, the challenge has been made to the proceedings of Diary No. 03 (064) 2018 before the National Company Law Tribunal, Guwahati [in short 'the Tribunal'] initiated by the respondent - Bank. According to the learned counsel for the petitioners, the Tribunal is proceeding inspite of settlement arrived at between the parties.

(3.) Sub-Section (1) of Section 421 of the Companies Act, 2013 [In short, the 2013 Act] provides that against an order passed by the Tribunal, appeal lies to the National Company Law Appellate Tribunal (NCLAT). Sub-Section (1) of Section 421 of the 2013 Act reads thus;