# In the matter of AKR Home Depot Pvt. Ltd. MA-316-2019 in CP-1469-IB-2018

> NCLT judgment dated 2019-05-20. Citation: TCN-2019-NCLT-03250. The case involves a hearing at the National Company Law Tribunal (NCLT), Chennai Bench,…

- **Court:** NCLT
- **Order date:** 20 May 2019
- **Citation:** TCN-2019-NCLT-03250
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akr-home-depot-pvt-ltd-ma-316-2019-in-cp-1469-ib-2018-6b3b1345

## Summary

### Background

The case involves a hearing at the National Company Law Tribunal (NCLT), Chennai Bench, regarding an application and petition under the Insolvency and Bankruptcy Code (IBC). The Resolution Professional (RP) is present, and the respondent, Fast Track Consultants, is not represented despite receiving notice. The RP has sent an email to the respondent, and the registry has issued a notice which has been delivered on 29.04.2019.

## Facts

The key facts are as follows: The hearing took place at the NCLT Chennai Bench on 20.05.2019. The application number is MA/316/2019, and the petition number is CP/1469/IB/2018. The petitioner is N. Kumar IRP. The respondent is Fast Track Consultants. The case is under Section 60(5) of the IBC. The Resolution Professional (RP) is present. The respondent was notified but did not appear. The registry issued a notice delivered on 29.04.2019. The court has directed the registry to prepare a draft for the issuance of a bailable warrant against the respondent. The case is to be put up on 18.06.2019. The respondent's presence is deemed essential for the matter.

## Issues and analysis

### Issue 1: Whether the respondent, Fast Track Consultants, …

**Ratio:** The principle of ensuring fair opportunity and compliance with legal proceedings requires

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**Reasoning:** The court observes that despite the issuance and delivery of notices, Fast Track

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**Interpretation:** This issue involves interpreting the respondent's actions in the context of

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**Application:** Given the fact that notices were served and delivered, the court applies the

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** N.KUMAR…
- **Respondents:** FAST TRACK…

## Timeline

- **2018-01-01 — Petition…**: CP/1469/IB/2018…
- **2019-04-29 — Notice Del…**: Registry issued notice…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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