# In the matter of Arshiya Limited Company Petition No. 700-I&BP-NCLT-MB-MAH-2017

> NCLT judgment dated 2017-08-18. Citation: TCN-2017-NCLT-00584. The case pertains to a company petition filed under the Insolvency & Bankruptcy Code 2016. The…

- **Court:** NCLT
- **Order date:** 18 Aug 2017
- **Citation:** TCN-2017-NCLT-00584
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/arshiya-limited-company-petition-no-700-ibp-nclt-mb-mah-2017-1a187b05

## Summary

### Background

The case pertains to a company petition filed under the Insolvency & Bankruptcy Code 2016. The matter was transferred from the High Court of Bombay and relates to provisions 433(e) and 434(a) of the Companies Act, 1956. The petitioner/creditor was absent despite multiple opportunities to appear.

## Facts

The case involves a company petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition, numbered TCP 700/I&BP/NCLT/MB/MAH/2017, concerns the Insolvency & Bankruptcy Code 2016. The matter was transferred from the High Court of Bombay, relating to provisions 433(e) and 434(a) of the Companies Act, 1956. The petitioner/creditor was absent despite multiple opportunities to appear before the court. The court's procedure for intimation involves uploading the cause list on the NCLT site and displaying directions given on hearing. The petitioner's absence was deemed a lack of seriousness in pursuing the petition. A notification dated 29.06.2017 allows parties to file fresh applications under sections 7, 8, or 9 of the Insolvency &

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## Issues and analysis

### Issue 1: Whether the petition should be dismissed due to the …

**Ratio:** A petition can be dismissed for want of prosecution if the petitioner fails to appear

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**Reasoning:** The court reasoned that the petitioner's repeated absence indicated a lack of seriousness

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**Interpretation:** The interpretation is that a petitioner has a responsibility to actively pursue

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**Application:** In this case, the petitioner's absence, despite multiple opportunities, led the

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Respondents:** M/s. ARSHIYA…; M/s. LEGAL AXIX…

## Timeline

- **1956-01-01 — Companies Ac…**: Reference to provisions 433(e) and…
- **2017-06-29 — Notificatio…**: Notification regarding eligibility to file fresh applications under sections 7, 8, or 9…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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