Yes Bank writ petition seeking directions to NCLT for urgent hearing not maintainable: DishTV to Bombay High Court

The plea by Yes Bank seeking directions to the National Company Law Tribunal (NCLT), Mumbai to hear and dispose of its urgent application to convene an extra-ordinary general meeting (EGM) is not maintainable, DishTV submitted before the Bombay High Court..DishTV’s largest shareholder, Yes Bank had approached NCLT for directions to convene an EGM. Since the application was not decided for over a year, Yes Bank approached the High Court by way of a wring petition seeking directions to NCLT to hear the plea expeditiously..Responding to the petition, DishTV contended that Yes Bank could not resort to forum shopping in order to hear matters that are pending. “The petitioner (Yes Bank) has unnecessarily knocked the doors of this Court and dragged respondent no 1 (DishTV) before this Court although NCLT already has cognizance of the petition. A trivial defect or shortcoming in the listing of the matter cannot grieve the petitioner to an extent that it can invoke the powers of this Court to get a favourable decision,” the affidavit filed by DishTV said..Further, if the High Court allows the company to indulge in such forum shopping practices, it would be set a dangerous precedent for all other matters before the Tribunals, the respondent contended..DishTV further stated that as a private company, it did not fall within the purview of 'State', and hence, it is outside the purview of the writ jurisdiction of the Court.It was also pointed out that though the relief sought by Yes Bank is for directions to NCLT to hear the company petition and the accompanying application, but the State has not been arrayed as a party; so the present writ petition ought to be dismissed for want of maintainability of a public law remedy..Finally, DishTV also highlighted that the petitioner bank has remedies under the NCLT Rules to approach the President of NCLT to pass necessary directions, however, the same was not exhausted before approaching the High Court..When the matter was called out for hearing on Monday, Bench of Justices SV Gangapurwala and RN Laddha asked the parties to submit what the next date of hearing was before NCLT.The matter has been posted for hearing on Friday.