Authority: National Company Law Tribunal, New Delhi Bench (Court – II)
Order Date: 08 June 2026
Case Overview
The petition (CP-100/ND/2026) was filed under Section 186(13) of the Companies Act, 2013 against ASC Impex Pvt Ltd (Respondent No. 1). The applicant alleged that ASC Impex Pvt Ltd violated provisions of Section 186 of the Companies Act in extending a financial facility. The specific prayer sought recovery of Rs. 93,25,428 (Rupees Ninety Three Lacs Twenty Five Thousand Four Hundred and Twenty Eight only) along with pendente-lite and future interest at 12% per annum, plus costs of the suit proceedings.
During proceedings, the learned counsel for the applicant submitted that ASC Impex Pvt Ltd should be penalized for the violation. However, the tribunal concluded that it does not possess the jurisdiction to penalize the company for such violations under Section 186.
Final Outcome
Confronted with the jurisdictional issue, the applicant's counsel sought to withdraw the petition. The NCLT bench, comprising Member (T) Sh. Atul Chaturvedi and Member (J) Sh. Ashok Kumar Bhardwaj, dismissed the petition as withdrawn. The order grants liberty to the applicant to approach the Registrar of Companies for appropriate action in accordance with law regarding the alleged violation.
Topics: Corporate Law, Regulatory Compliance