# In the matter of Ace Acoustics & Audion Video Solutions Pvt. Ltd. CP (IB) No. 15-GB-2019

> NCLT judgment dated 2019-07-18. Citation: TCN-2019-NCLT-02441. The case involves an application under Section 9 of the Insolvency & Bankruptcy Code, 2016.…

- **Court:** NCLT
- **Order date:** 18 Jul 2019
- **Citation:** TCN-2019-NCLT-02441
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ace-acoustics-audion-video-solutions-pvt-ltd-cp-ib-no-15-gb-2019-216028ac

## Summary

### Background

The case involves an application under Section 9 of the Insolvency & Bankruptcy Code, 2016. M/s. Aurora Accessories Pvt. Ltd., the Operational Creditor, filed a petition against M/s. Ace Acoustics & Audio Video Solutions Pvt. Ltd., the Corporate Debtor. The Corporate Debtor was initially directed to appear on 18.07.2019, but the case was preponed to 11.07.2019, on which date the Corporate Debtor was marked absent and the matter was decided ex parte.

## Facts

M/s. Aurora Accessories Pvt. Ltd. filed a petition against M/s. Ace Acoustics & Audio Video Solutions Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Corporate Debtor, M/s. Ace Acoustics & Audio Video Solutions Pvt. Ltd., was initially directed to appear on 18.07.2019. The case was preponed to 11.07.2019, and the Corporate Debtor was marked absent, leading to an ex parte decision. The Corporate Debtor's counsel appeared and submitted that notice was served for the 18.07.2019 hearing. The court found that proceeding with the 11.07.2019 hearing would be unjust to the Corporate Debtor. The Corporate Debtor's counsel was directed to file a Board Resolution and reply affidavit by 26.07.2019, and the Operational Creditor was required to

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## Issues and analysis

### Issue 1: Whether the order dated 11.07.2019 should be recalled …

**Ratio:** The principle of natural justice dictates that all parties must be given a fair

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**Reasoning:** The court reasoned that since the Corporate Debtor was initially directed to appear on

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**Interpretation:** This issue involves interpreting the principles of natural justice and

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Jinan…
- **Appellants:** M/s. Aurora…
- **Respondents:** M/s. Ace Acoustics…

## Timeline

- **2019-07-11 — Initial…**: The Corporate Debtor was called absent,…
- **2019-07-18 — Scheduled App…**: The Corporate Debtor was initially…

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