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Judgment
5 paragraphs · 177 wordsThe present Application bearing number Rst.A(CA)No.1/JPR/2022 has been filed by the Petitioner under Rule 48 of the NCLT Rules, 2016 seeking restoration of the Main Petition CP No. 24(lf D/2015 titled as Rajat Jain vs. M/s Surabhi Stores Pvt Ltd. & Ors.
This Tribunal dismissed the CP No. 24(ND)/2015 for the reason of nonprosecutionvide order dated 07.10.2022.The Petitioner had preferred the Petition against the Respondents under Section 397-398 of the Companies Act, 1956 challenging the acts of Oppression and Mismanagement.
Counsel for the Applicant has submitted that due to some personal exigencies Counsel could not appear before the Tribunal in the said matter.
The Respondent has opposed the Application of the Petitioner for the revival of the main petition vide its reply dated on27.04.2023.
It is seen that the application for revival was filed on 07.11.2022.In the interest of justice, the present Restoration Application 0l/JPR/2022 is allowed and stands disposed off with a cost of Rs. 20001- (Rupees Two Thousand Only) to be paid to the opposite party within 7 days from the date of this order.