Partly allowed
Ia 6003/ND/2026 of Axis Bank Limited v. Bsr Diagnostic Limited & Ors.
NCLAT6003/ND/2026
Case brief
AI extract
What is this about?
The National Company Law Appellate Tribunal modified an interim order imposing Rs. 2 lakh costs on the appellant for non-appearance in an insolvency proceeding. The Tribunal allowed the appellant to deposit the amount voluntarily to waive the cost while preserving rights to contest the underlying refund claim before the NCLT in a pending application.
What did the court decide?
The cost of Rs. 2 lakhs imposed on the appellant for failure to appear and file reply is waived, contingent upon voluntary deposit of the disputed amount with the liquidator within three weeks.