Supreme Court Criticizes NCLAT for Ex-Parte Order
The Supreme Court reprimanded the National Company Law Appellate Tribunal (NCLAT) at Chennai for issuing an order that removed restrictions on the merger of Matrix Pharmacorp Pvt Ltd and Tianish Laboratories Pvt Ltd without notifying the affected parties.
"This NCLAT does not have the common sense to issue a notice and then hear? Passing a 30-page order ex-parte,"
A bench consisting of Justice Surya Kant and Justice Joymalya Bagchi expressed disappointment at the ex-parte order, emphasizing the importance of giving affected parties an opportunity to respond.
Author's summary: Supreme Court criticizes NCLAT's ex-parte order in merger case.