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

> NCLAT judgment dated 2025-01-31. Citation: TCN-2025-NCLAT-00403. The case pertains to a Company Appeal (AT) (Insolvency) No. 179 of 2025 and I.A. No. 717 of…

- **Court:** NCLAT
- **Order date:** 31 Jan 2025
- **Citation:** TCN-2025-NCLAT-00403
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/alchemist-asset-reconstruction-company-ltd-vs-asc-insolvency-services-llp-ors-e7ee077d

## Summary

### Background

The case pertains to a Company Appeal (AT) (Insolvency) No. 179 of 2025 and I.A. No. 717 of 2025 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi.

## Facts

The appeal is Company Appeal (AT) (Insolvency) No. 179 of 2025.

I.A. No. 717 of 2025 is also associated with the case.

The appellant is Alchemist Asset Reconstruction Company Ltd.

The respondents are ASC Insolvency Services LLP & Ors.

The appellant is allowed to file an additional affidavit within five days from 31.01.2025.

The appeal is listed for hearing on 07.02.2025.

There is an interim order restraining the transfer of assets of the Corporate Debtor.

## Issues and analysis

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

**Ratio:** The court has the discretion to allow parties to submit additional evidence or documents

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**Reasoning:** The court found it appropriate to allow the appellant to file an additional affidavit

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**Interpretation:** This indicates the court's willingness to consider all relevant information

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**Application:** The appellant is permitted to file the additional affidavit, which will be

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Alchemist Asset…
- **Respondents:** ASC Insolvency…
- **Advocates:** Krishnendu…; Milan Sing…; +15 more

## Timeline

- **31.01.2025 — Order Da…**: Learned Counsel for the Appellant is permitted to file Additional Affidavit within five…
- **07.02.2025 — Appeal Listi…**: Appeal is listed on…

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