CK Sreenathan & 13 Ors Vs Bg SE Properties & Securities Ltd. & 5 Ors. (NCLAT Chennai)
National Company Law Appellate Tribunal (NCLAT), Chennai Bench, has dismissed a company appeal filed by CK Sreenathan & 13 Ors. against Bg SE Properties & Securities Ltd. & 5 Ors. The dismissal stems from the appellants’ persistent failure to rectify procedural defects, despite being granted multiple opportunities over an extended period.
The appeal aimed to challenge an order issued by the Adjudicating Authority on April 29, 2024. The original e-filing of the appeal occurred on June 11, 2024. However, the Registry identified several defects, which the appellants were required to rectify within a specified timeframe. Their failure to do so led to the appeal’s dismissal under Rules 26(3)(4) of the NCLAT Rules, 2016, by an order of the Appellate Tribunal on September 9, 2024.
Subsequently, the appellants filed a restoration application seeking to recall the dismissal order. This application was granted by the NCLAT on February 3, 2025, which provided the appellants liberty to refile the appeal. The appeal was refiled on February 14, 2025.
However, even upon refiling, the Registry again pointed out defects that, as of the date of the NCLAT’s current order, remained unrectified. The Tribunal noted that despite the appeal being formally numbered, it still carried the identified defects.
