Nama Trading vs Incred Financial Services Limited.
2024 Latest Caselaw 4553 Tel

Telangana High Court

Nama Trading vs Incred Financial Services Limited. on 22 November, 2024

                    THE HONOURABLE SRI JUSTICE SUJOY PAUL

                          CIVIL REVISION PETITION No.3005 of 2024

         ORDER:

Heard Ms.Saleha Begu, learned counsel for the

petitioners.

2. The petitioners take exception to the impugned order

dated 05.08.2024, whereby, Insolvency Petition (I.P.) of the

petitioners was returned. Learned counsel for the petitioners

submits that said I.P. petition was previously returned on

03.05.2024. The petitioners again resubmitted it, but, without

giving any opportunity of oral hearing to the petitioners, on the

strength of judgment of High Court of Andhra Pradesh in

Indian Overseas Bank, Brodipet Branch, Guntur v. Popuri

Veeraiah 1, the IP is returned. He submits that if the petitioners

would have been given an opportunity of oral hearing, they

would have been in a position to satisfy the Court that the

aforesaid judgment has no application in the instant case.

Thus, singular prayer is to set aside the order, dated

05.08.2024, and direct the trial Court to hear the petitioners

and then pass order, in accordance with law.

2009 0 AIR (AP) 170

3. I find substance in the argument of learned counsel for

the petitioners and in the fitness of things, it will be proper for

the trial Court to hear the petitioners on the aforesaid aspect.

4. Accordingly, the order, dated 05.08.2024, is set aside.

The trial Court shall provide an opportunity of hearing to the

petitioners and pass a fresh order, in accordance with law.

5. The Civil Revision Petition is disposed of, without

expressing any view on the merits and maintainability. No costs.

Interlocutory applications, if any pending, shall also

stand closed.

_______________________ JUSTICE SUJOY PAUL

22.11.2024 nvl/sa