# In the matter of Alchemist Asset Reconstruction Company Ltd. vs. ASC Insolvency Services LLP & Ors.

> NCLAT judgment dated 2025-02-19. Citation: TCN-2025-NCLAT-00399. The case is an appeal before the National Company Law Appellate Tribunal (NCLAT), Principal…

- **Court:** NCLAT
- **Order date:** 19 Feb 2025
- **Citation:** TCN-2025-NCLAT-00399
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/alchemist-asset-reconstruction-company-ltd-vs-asc-insolvency-services-llp-ors-0056f2cc

## Summary

### Background

The case is an appeal before the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, concerning an insolvency matter. The appellant is Alchemist Asset Reconstruction Company Ltd., and the respondents are ASC Insolvency Services LLP & Ors.

## Facts

Alchemist Asset Reconstruction Company Ltd. is the Appellant.

ASC Insolvency Services LLP & Ors. are the Respondents.

The Appellant sought 10 days to file a rejoinder affidavit.

The case was listed for hearing on March 5th, 2025.

An interim order is in effect.

## Issues and analysis

### Issue 1: Whether the Appellant should be granted …

**Ratio:** The court has the discretion to

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**Reasoning:** The Appellant requested time to

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**Interpretation:** The court interpreted the request as

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**Application:** The court allowed the Appellant 10

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Alchemist Asset…
- **Respondents:** ASC Insolvency…
- **Advocates:** Krishnendu…; Milan Sing…; +16 more

## Timeline

- **2025-02-19 — Hearing…**: Counsel for the Appellant prays for 10 days time to file the Rejoinder Affidavit to the…
- **2025-03-05 — Next Hearin…**: The Appeal is listed on…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/alchemist-asset-reconstruction-company-ltd-vs-asc-insolvency-services-llp-ors-0056f2cc