# In the matter of R. Vijayakumar Vs. IEL Finex Pvt Ltd. Company Appeal (AT) (CH) (Ins) No. 218 of 2022

> NCLAT judgment dated 2022-07-18. Citation: TCN-2022-NCLAT-00350. The appeal was filed against an order dated 03.02.2022, where the Appellant's application for…

- **Court:** NCLAT
- **Order date:** 18 Jul 2022
- **Citation:** TCN-2022-NCLAT-00350
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/r-vijayakumar-vs-iel-finex-pvt-ltd-company-appeal-18aa74d7

## Summary

### Background

The appeal was filed against an order dated 03.02.2022, where the Appellant's application for 'Restoration of the Application' under Section 7 of the Insolvency and Bankruptcy Code, 2016, was dismissed for non-prosecution on 25.03.2021. The Appellant had initially filed an application under Section 7 of the Code to claim Rs. 10 Lakh (Principal amount) and Rs. 1,30,000 towards interest. The Adjudicating Authority had previously directed the Petitioner to report on whether they intended to withdraw or continue the petition, failing which it would be dismissed for non-prosecution. On 25.03.2021, no one appeared for the Appellant, leading to the dismissal.

## Facts

The Appellant, R. Vijayakumar, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to claim Rs. 10 Lakh (Principal amount) and Rs. 1,30,000 towards interest from the Respondent, M/s. IEL FinexPvt Ltd. The Adjudicating Authority directed the Appellant to report on whether they intended to withdraw or continue the petition. The matter was listed for hearing on 11.03.2021, and subsequently on 25.03.2021, but no one appeared on behalf of the Appellant. Consequently, the Adjudicating Authority dismissed the application for non-prosecution. The Appellant then filed an application for revival of the application, which was also dismissed on 03.02.2022. The Appellant then filed an appeal against the dismissal order. The Appellant's counsel

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in dismissing the Appellant's application for restoration …

**Ratio:** The principle of procedural compliance and diligence in pursuing legal remedies. The

…

**Reasoning:** The court reasoned that the Appellant failed to appear on the scheduled hearing date

…

**Interpretation:** The interpretation of procedural law requires parties to diligently pursue

…

**Application:** The Appellant's failure to appear and the subsequent delay in seeking

…

## Parties

- **Judges:** Rakesh Kuma…; KanthiNar…
- **Appellants:** R. Vijaya…
- **Respondents:** M/s. IEL FinexPvt…

## Timeline

- **2021-02-24 — Order Da…**: The Adjudicating…
- **2021-03-11 — Hearing…**: The matter came up for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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/r-vijayakumar-vs-iel-finex-pvt-ltd-company-appeal-18aa74d7