J U D G M E N T

(Hybrid Mode)

Per: Barun Mitra, Member (Technical)

Present is a set of two appeals filed under Section 421 of the Companies Act , 2013 arising out of the Orders dated 12.03.2024 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-I) in Company Application No. 424 of 2023 filed by Mr. Lalatendu Swain & Or and Company Application No. 434 of 2023 filed by Mr. Prakasarao V.S. Yadavilli respectively. By the impugned order, the Adjudicating Authority has rejected their application vide which claims were raised by them in Claim Form-C before the Claim Management Advisor as non- maintainable. Aggrieved by the impugned order, the present appeals have been preferred by the Appellants. Since, on points of facts and law and also the grounds on which both the appeals have been premised are common, it would suffice to confine ourselves to the pleadings made in Company Appeal No. 424 of 2023 to decide both these appeals at hand.

2. The salient points in the present facts of the case which require to be noticed for consideration of the matter before us is that the Appellants had entered into an Agreement for