Imp. Rulings - Timelines & Procedural Statutory Provisions

 Imp. Rulings -  Timelines & Procedural Statutory Provisions

Index;

1. NCLT Mumbai-2 (2024.12.18) in Vineet K. Chaudhary (Liquidator) Vs. JSC-OGCC Jazstroy Service [(2024) ibclaw.in 1199 NCLT, IA. No. 614/2021 in CP(IB) 1202/MB/2017]

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NCLT Mumbai-2 (2024.12.18) in Vineet K. Chaudhary (Liquidator) Vs. JSC-OGCC Jazstroy Service [(2024) ibclaw.in 1199 NCLT, IA. No. 614/2021 in CP(IB) 1202/MB/2017] held that;

# 54. The Hon’ble Apex Court in the case of Surendra Trading Company v. Juggilal Kamlapet Jute Mills Company Ltd and Ors referred with approval the following observation in P.T. Rajan Vs. T.P.M. Sahir and Ors. (2003) 8 SCC 498:

• “48. It is well-settled principle of law that where a statutory functionary is asked to perform a statutory duty within the time prescribed therefor, the same would be directory and not mandatory. (See Shiveshwar Prasad Sinha v. The District Magistrate of Monghur & Anr. AIR (1966) Patna 144, Nomita Chowdhury v. The State of West Bengal & Ors. (1999) CLJ 21 and Garbari Union Co-operative Agricultural Credit Society Limited & Anr. V. Swapan Kumar Jana & Ors. (1997) 1 CHN 189). 49. Furthermore, a provision in a statute which is procedural in nature although employs the word “shall” may not be held to be mandatory if thereby no prejudice is caused.”