# In the matter of Icon Commodities Ltd. CP(IB) No. 238-9-HDB-2019

> NCLT judgment dated 2019-07-24. Citation: TCN-2019-NCLT-02319. The case pertains to CP(IB) No. 238/9/HDB/2019 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 24 Jul 2019
- **Citation:** TCN-2019-NCLT-02319
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/icon-commodities-ltd-cpib-no-238-9-hdb-2019-a8568dfb

## Summary

### Background

The case pertains to CP(IB) No. 238/9/HDB/2019 before the National Company Law Tribunal, Hyderabad Bench. The matter involves Icon Commodities Ltd as both the company and the respondent, and Neueon Towers Ltd as the petitioner. The case is related to Section 9 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The case involves a petition filed by Neueon Towers Ltd against Icon Commodities Ltd under Section 9 of the IBC. Icon Commodities Ltd is also listed as the company in question. The petitioner, Neueon Towers Ltd, failed to appear for the hearing, and the court noted that there had been a lack of representation on previous occasions as well. As a result, the court dismissed the petition for default.

## Issues and analysis

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

**Ratio:** A case can be dismissed for default if the petitioner fails to appear or is not

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**Reasoning:** The court observed that the petitioner, Neueon Towers Ltd, was not represented during the

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**Interpretation:** The principle of 'default' implies that if a party initiating legal action

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**Application:** In this instance, the petitioner's absence and lack of representation led the

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** Neueon Towe…
- **Respondents:** Icon Commodities…

## Timeline

- **2019-07-24 — Hearing…**: Hearing held on 24.07.2019 at 10.30 AM.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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