# In the matter of Advance Surfactants India Ltd. (IB)-89(ND)-2019

> NCLT judgment dated 2019-07-01. Citation: TCN-2019-NCLT-02735. The matter was brought before the Bench for consideration. The counsel for the petitioner…

- **Court:** NCLT
- **Order date:** 1 Jul 2019
- **Citation:** TCN-2019-NCLT-02735
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/advance-surfactants-india-ltd-ib-89nd-2019-1fb39731

## Summary

### Background

The matter was brought before the Bench for consideration. The counsel for the petitioner requested an adjournment on January 11, 2019, and again on January 15, 2019, to file additional documents. On February 1, 2019, the court directed that notice be issued to the Corporate Debtor via all modes. The petitioner did not take any steps. An indulgence was granted on February 18, 2019, but the petitioner still failed to act. Another adjournment request was made on March 16, 2019. The petitioner changed counsel but still took no steps. The petitioner has been granted various opportunities through their counsel present in court. A fresh prayer is made to effect service in terms of previous orders.

## Facts

The case involves M/s. BSA Polycontainer Pvt. Ltd. V/s. M/s. Advance Surfactants India Ltd. The matter was initially presented on January 11, 2019, and the petitioner's counsel requested multiple adjournments to file additional documents. Despite the court's order on February 1, 2019, to issue notice to the Corporate Debtor, the petitioner failed to take any steps. The court granted an indulgence on February 18, 2019, but the petitioner still did not act. Another adjournment was requested on March 16, 2019. The petitioner changed counsel but continued to take no action. The court noted that the IBC mandates a two-week disposal timeframe, and the petitioner's inaction warranted dismissal for non-prosecution. The court granted one final opportunity, contingent on a

…

## Issues and analysis

### Issue 1: Whether the petitioner's repeated requests for adjournment and failure to take necessary steps …

**Ratio:** The Insolvency and Bankruptcy Code (IBC) mandates a time-bound resolution process.

…

**Reasoning:** The court reasoned that the IBC requires matters to be disposed of within a specific

…

**Interpretation:** The IBC's emphasis on timely resolution implies that parties must diligently

…

**Application:** The petitioner's repeated requests for adjournment and failure to take

…

## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** M/s. BSA Polyconta…
- **Respondents:** M/s. Advance…
- **Advocates:** Ram Ekba…

## Timeline

- **2019-01-11 — First Consid…**: Matter came up for consideration;…
- **2019-01-15 — Adjournment…**: Ld. Counsel prayed for more time…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

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/nclt-chandigarh/advance-surfactants-india-ltd-ib-89nd-2019-1fb39731