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Regular-article-logo Wednesday, 06 November 2024

NCLAT holds virtual hearing on Incab liquidation

Judges seek summary of arguments, next hearing on November 6

Pinaki Majumdar Jamshedpur Published 28.09.20, 09:11 PM
Incab Industries in Jamshedpur

Incab Industries in Jamshedpur Bhola Prasad

The New Delhi-based National Company Law Appellate Tribunal (NCLAT) conducted a virtual hearing on Incab Industries Limited on Monday.

During the 20-minute hearing a two-member bench comprising Justice Bansilal Bhatt, chairperson of NCLAT, and Justice J.K. Jain heard the appeal of the workers who had challenged the liquidation order of the company earlier passed by the Calcutta bench of National Company Law Tribunal (NCLT).

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The appellate authority (NCLAT) asked advocates and counsels fighting the case on behalf of workers -- both from Jamshedpur and the company's head office in Calcutta _ to file notes on arguments which is a concise presentation of a claim on a problem.

NCLAT fixed November 6 as the next date of hearing.

In all 277 workers of the company from Jamshedpur led by Bhagwati Prasad Singh had appealed to the NCLAT on March 19 seeking rejection of the liquidation order passed by NCLT on February 7. The hearing was supposed to take place on March 24, but could not take place because of the Covid-induced nationwide lockdown.

Later, on August 27 NCLAT conducted an online hearing and admitted the plea of the workers challenging the liquidation order. A similar plea challenging the liquidation order was also filed by Jayanta Banerjee, an official based at Incab's Calcutta head office.

A Supreme Court lawyer, S.K. Mohanty and senior advocate Akhilesh Srivastava are fighting the case on behalf of the 277 workers in NCLAT. They attended the virtual hearing.

"The next hearing will take place on November 6. NCLAT would either uphold or set-aside the liquidation order passed by the Calcutta bench of NCLT," Mohanty told The Telegraph Online over phone from New Delhi.

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