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NATIONAL COMPANY LAW TRIBUNAL
SHRI. VINAY GOEL, SMT. MADHU SINHA, JJ
Kumarakom Aqua Serene Private Limited – Appellant
Versus
KERALA STATE INDUSTRIAL DEVELOPMENT CORPORATION LIMITED – Respondent
| Table of Content |
|---|
| 1. recall of earlier tribunal's order under ibc. (Para 1 , 2 , 3) |
| 2. arguments on maintainability of the application. (Para 4 , 5 , 6) |
| 3. discussion on res judicata and cpc's relevance. (Para 7 , 8 , 9) |
| 4. inherent powers and review process limitations. (Para 10 , 11 , 14) |
| 5. details on the corporate debtor's previous loans and pending petitions. (Para 12 , 19 , 22) |
| 6. arguments against the misuse of recall application. (Para 15 , 16) |
| 7. court's observations regarding jurisdiction and merits. (Para 18 , 24 , 25) |
| 8. reference to procedural errors and requirements for recall. (Para 26 , 27 , 28) |
| 9. final dismissal of the recall application. (Para 34) |
O R D E R
Per Coram:
1. This is an application filed by the Applicant, who is a shareholder and Suspended Managing Director of the Corporate Debtor, with respect to the following reliefs: -
a. To Recall the NCLT- Kochi Bench order dated 16/04/2025 in CP(IB)23/KOB/2024 and thus render justice;
b. To pass such other order as the Hon’ble Tribunal may deem fit and proper in the circumstances of the case.
Brief facts are as under: -
2. This applicant seeks to recall this Tribunal’s order dated 16.04.2025, by Insolvency and Bankruptcy Code,
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