# In the matter of Aegis Value Home Ltd. RA-20-ND-2021
(IB)-2953(ND)-2019

> NCLT judgment dated 2021-07-28. Citation: TCN-2021-NCLT-01567. The case involves an application filed by the Operational Creditor seeking restoration of an IB…

- **Court:** NCLT
- **Order date:** 28 Jul 2021
- **Citation:** TCN-2021-NCLT-01567
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aegis-value-home-ltd-ra-20-nd-2021-ib-2953nd-2019-0b721f26

## Summary

### Background

The case involves an application filed by the Operational Creditor seeking restoration of an IB application that was dismissed for default on 2021-07-02. The applicant's counsel states that their family was affected by Covid-19 in March, preventing their appearance, which led to the dismissal. The court allows the application as a last chance, reviving IB-2953/ND/2019.

## Facts

The Operational Creditor filed an IB application, which was dismissed for default on 2021-07-02 due to the applicant's counsel's inability to appear. The counsel's family was affected by Covid-19 in March, preventing their appearance in court. The Operational Creditor then filed an application seeking restoration of the dismissed IB application. The Corporate Debtor's counsel stated that the pleadings are complete. The court allowed the restoration application, reviving the original IB application.

## Issues and analysis

### Issue 1: Whether the IB application dismissed for default should be restored given the circumstances of the …

**Ratio:** The court has the discretion to restore a case dismissed for default, especially when

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**Reasoning:** The court considered the explanation provided by the applicant's counsel regarding the

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**Interpretation:** The interpretation is that the court is willing to consider genuine reasons for

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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:** DEEPTI M…; SUMITA PURK…; +1 more
- **Appellants:** M/s A.S Constructi…
- **Respondents:** M/s Aegis Value…

## Timeline

- **2021-07-02 — Dismissal of IB…**: The IB application was dismissed for default due to the non-appearance of the applicant's…
- **2021-07-28 — Order for Res…**: The court allowed the application for…

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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/aegis-value-home-ltd-ra-20-nd-2021-ib-2953nd-2019-0b721f26