# In the matter of HS Mercantle Ltd. CP(IB)No. 774-KB-2019

> NCLT judgment dated 2019-07-09. Citation: TCN-2019-NCLT-02609. The case pertains to CP(IB) No.774/KB/2019 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 9 Jul 2019
- **Citation:** TCN-2019-NCLT-02609
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hs-mercantle-ltd-cpibno-774-kb-2019-edec9985

## Summary

### Background

The case pertains to CP(IB) No.774/KB/2019 before the National Company Law Tribunal, Kolkata Bench. The matter involves Subh Chintak Commotrade Pvt. Ltd. versus HS Mercantile Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The case involves Subh Chintak Commotrade Pvt. Ltd. as the Operational Creditor and HS Mercantile Ltd. as the Corporate Debtor. The petition was filed under Section 7 of the IBC. On the hearing date, the Operational Creditor was absent, and no steps were taken to serve notice to the Corporate Debtor. As a result, the petition was dismissed for want of prosecution. The absence of the Operational Creditor and the failure to serve notice are key facts leading to the dismissal.

## Issues and analysis

### Issue 1: Whether the petition can be maintained in the absence of the Operational Creditor and without …

**Ratio:** A petition cannot be maintained if the applicant is absent and fails to prosecute the

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**Reasoning:** The court reasoned that the absence of the Operational Creditor and the lack of service

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**Interpretation:** The interpretation is that the applicant has a responsibility to be present and

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**Application:** In this case, the Operational Creditor's absence and the failure to serve

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## Parties

- **Judges:** Jinan…
- **Appellants:** Subh Chintak…
- **Respondents:** HS Mercanti…

## Timeline

- **2019-07-09 — Hearing…**: Hearing held on July 9, 2019, at 10:30 A.M. The Operational Creditor was absent, and no…

## 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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