Supreme Court Criticizes NCLAT for Ex-Parte Order
The Supreme Court reprimanded the National Company Law Appellate Tribunal (NCLAT) at Chennai for issuing an ex-parte order regarding the Matrix-Tianish merger.
A Bench comprising Justice Surya Kant and Justice Joymalya Bagchi expressed dissatisfaction with the NCLAT's decision to pass a 30-page order without giving affected parties an opportunity to respond.
"This NCLAT does not have the common sense to issue a notice and then hear? Passing a 30-page order ex-parte,"
The case in question is Ras Al Khaimah Investment Authority Vs Matrix Pharmacorp, involving the merger of Matrix Pharmacorp Pvt Ltd and Tianish Laboratories Pvt Ltd.
Author's summary: Supreme Court criticizes NCLAT's ex-parte order in merger case.