# In the matter of Aditya Polymers & Chemicals (India) Pvt. Ltd. CP (IB)145(MB)-2019

> NCLT judgment dated 2019-04-16. Citation: TCN-2019-NCLT-03835. The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 16 Apr 2019
- **Citation:** TCN-2019-NCLT-03835
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aditya-polymers-chemicals-india-pvt-ltd-cp-ib145mb-2019-9eafb234

## Summary

### Background

The case pertains to an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Corporation Bank against Aditya Polymers & chemicals (India) Pvt. Ltd. The hearing was held before the Mumbai Bench of the National Company Law Tribunal on April 16, 2019.

## Facts

Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Aditya Polymers & chemicals (India) Pvt. Ltd. The Corporate Debtor's counsel sought leave to file Vakalatnama, which was granted by the court. The Corporate Debtor's counsel stated that they had not received a copy of the petition. The court directed the Petitioner, Corporation Bank, to provide a copy of the petition to the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the counsel for the Corporate Debtor …

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

…

**Reasoning:** The court allowed the filing of Vakalatnama, indicating that the counsel was properly

…

**Interpretation:** Vakalatnama is a document authorizing an advocate to act and plead on behalf of

…

**Application:** The court's decision to allow the Vakalatnama ensures that the Corporate Debtor

…

## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** Corporatio…
- **Respondents:** Aditya Polymers &…; Aditya Polymers&…

## Timeline

- **2019-04-16 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2019-05-08 — Next Listin…**: The matter was listed for…

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