# In the matter of AMS Trading & Investment Pvt. Ltd. CP(IB) 11(MB)-2018

> NCLT judgment dated 2019-03-28. Citation: TCN-2019-NCLT-04277. The case pertains to an application under the Insolvency and Bankruptcy Code, 2016. The matter…

- **Court:** NCLT
- **Order date:** 28 Mar 2019
- **Citation:** TCN-2019-NCLT-04277
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ams-trading-investment-pvt-ltd-cpib-11mb-2018-628b5384

## Summary

### Background

The case pertains to an application under the Insolvency and Bankruptcy Code, 2016. The matter was listed before the Mumbai bench of the National Company Law Tribunal (NCLT).

## Facts

Premier Auto Finance Ltd filed a petition against AMS Trading & Investment Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the hearing before the Mumbai bench of the National Company Law Tribunal (NCLT), neither party responded. As a result, the NCLT dismissed the petition in default.

## Issues and analysis

### Issue 1: Whether the petition filed by Premier Auto Finance Ltd against AMS Trading & Investment Pvt Ltd …

**Ratio:** The ratio is that a petition under Section 7 of the Insolvency and Bankruptcy Code

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**Reasoning:** The court's reasoning is based on the fundamental principle that legal proceedings

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**Interpretation:** Section 7 of the IBC allows financial creditors to initiate the corporate

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**Application:** In this case, the absence of any response from either Premier Auto Finance Ltd

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## Parties

- **Judges:** V. P. S…; Ravikumar…; +1 more
- **Appellants:** Premier Auto…
- **Respondents:** AMS Trading &…; AMS Trading &…

## Timeline

- **2018-01-01 — Case Fil…**: CP(IB) 11(MB)/2018 was…
- **2019-03-28 — Hearing…**: Hearing of Mumbai Bench of the…

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