Based on the mistake apparent from the record, Rahul filed an application before the Tribunal to rectify the mistake. Rahul filed the application on 31st December 2022 against the order dated 31st December 2021 i.e., wit

As per section 420(2) of the Companies Act, 2013, the Tribunal may, at any time within two years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it, and shall make such amendment, if the mistake is brought to its notice by the parties: Provided that no such amendment shall be made in respect of any order against which an appeal has been preferred under this Act. Further, pursuant to Rule 11 of National Company Law Tribunal Rules, 2016, Tribunal has inherent power to make such order as may be necessary for meeting the end of justice or to prevent abuse of the process of the tribunal, and accordingly, the Tribunal can rectify the order passed by its own. In Sree Ayyanar Spinning & Weaving Mills Ltd. v. Commissioner of Income Tax, 2008 (301 ITR 434), it was held that under first part of the provision, the tribunal is empowered to suo-moto rectify any mistakes apparent on record any time within two years from the date of its original order. Under the second part, either the taxpayer or the department may file an application highlighting the mistake apparent on record. In light of the provision, the Apex Court held that the appellate tribunal took time beyond the stipulated period even though the application was filed well within the period. Thus, in the mentioned event the applicant has filed the application within the stipulated period of two years from the date of original order, it is binding for the appellate tribunal to decide the matter on the basis of merits and not on the ground of limitation. Thus, Section 420(2) read with Rule 11, 154 and 155 of National Company Law Tribunal Rules, 2016 when interpreted in light of the above referred case law, clearly substantiate that the Tribunal has the responsibility under Sec 420(2) and not just a discretionary power to rectify a mistake apparent from the record is brought to its notice within 2 yrs form the date of order on an application by a party under the Act. Accordingly, the Tribunal's view to deny the rectification of mistake is not justified.