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

> NCLAT judgment dated 2025-03-19. Citation: TCN-2025-NCLAT-00389. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT)…

- **Court:** NCLAT
- **Order date:** 19 Mar 2025
- **Citation:** TCN-2025-NCLAT-00389
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/alchemist-asset-reconstruction-company-ltd-vs-asc-insolvency-services-llp-ors-ba29feca

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning insolvency proceedings. 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 case is an insolvency appeal before the NCLAT.

Respondent No.1 has filed a composite reply to the appeal and the Additional Affidavit.

Respondents No.2 and 3 have filed a reply to the Additional Affidavit filed by the Appellant and rely on the composite reply filed by Respondent No.1.

The mechanism for recurring expenses approved by the CoC may continue till disposal of the Appeal.

Arguments to continue on next date i.e.; 26.03.2025.

## Issues and analysis

### Issue 1: Whether the composite reply filed …

**Ratio:** The court acknowledges the

…

**Reasoning:** The court notes the submission of the

…

**Interpretation:** The court is considering

…

**Application:** The court will assess the

…

## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Alchemist Asset…
- **Respondents:** ASC Insolvency…
- **Advocates:** Krishnendu…; Milan Sing…; +14 more

## Timeline

- **2025-03-19 — Order Da…**: Learned counsel for the Respondent No.1 submits that he has already filed a composite…
- **2025-03-26 — Next Hearin…**: Arguments to continue…

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