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

> NCLT judgment dated 2019-07-01. Citation: TCN-2019-NCLT-02730. The matter came up for consideration on 11th January 2019, and the counsel requested an…

- **Court:** NCLT
- **Order date:** 1 Jul 2019
- **Citation:** TCN-2019-NCLT-02730
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/advance-surfactants-india-ltd-ib-89nd-2019-48048435

## Summary

### Background

The matter came up for consideration on 11th January 2019, and the counsel requested an adjournment. On 15th January 2019, the counsel requested more time to file additional documents. On 1st February 2019, notice was directed to be issued to the Corporate Debtor. Indulgence was granted again on 18th February 2019. On 16th March 2019, another adjournment was requested. The petitioner changed counsel but took no steps. Various opportunities have been granted to the petitioner. 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 an adjournment. Further time was requested on January 15, 2019, to file additional documents. Notice was directed to the Corporate Debtor on February 1, 2019. The petitioner failed to take necessary steps despite granted indulgences. Another adjournment was requested on March 16, 2019. The petitioner changed counsel but did not take any steps. The court granted multiple opportunities to the petitioner. The court considered dismissing the case for non-prosecution due to the delays and the nature of IBC proceedings, which require swift resolution. The petitioner was given a final

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## Issues and analysis

### Issue 1: Whether the petitioner should be granted a final opportunity to proceed with the case despite …

**Ratio:** The principle of granting a final opportunity is based on ensuring fairness and allowing

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**Reasoning:** The court considered the numerous opportunities already granted and the delays caused by

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**Interpretation:** The court interpreted the IBC's emphasis on timely resolution as requiring a

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**Application:** The court applied the principle of granting a final opportunity by allowing the

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## Parties

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

## Timeline

- **2019-01-11 — First Consid…**: Matter came up for consideration; Ld.…
- **2019-01-15 — Request for Additional…**: Ld. Counsel prayed for further…

## 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)

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