# In the matter of India Gold Ltd. T.C.P. No. 229-(MAH)-2017

> NCLT judgment dated 2017-09-27. Citation: TCN-2017-NCLT-00349. The case involves a transferred petition from the High Court to the National Company Law…

- **Court:** NCLT
- **Order date:** 27 Sept 2017
- **Citation:** TCN-2017-NCLT-00349
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/india-gold-ltd-tcp-no-229-mah-2017-1683928e

## Summary

### Background

The case involves a transferred petition from the High Court to the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner sought permission to place a withdrawal application on record. However, no one was present during the hearing.

## Facts

The case originated as a transferred petition from the High Court to the NCLT Mumbai Bench. The petitioner sought to place a withdrawal application on record, as noted in the proceedings dated 2017-08-10. However, no one representing the petitioner was present during the hearing. The court observed that the necessary compliance with the Code and submission of the requisite form for the transfer of the petition had not been fulfilled. As a result, the petition was abated according to Notification No. GSR-732(E) dated 2017-06-30, indicating the petitioner's lack of seriousness in pursuing the matter. Despite the abatement, the petitioner was granted the liberty to file a fresh petition if deemed appropriate, as per the 1st Proviso of the Notification. The petition was

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## Issues and analysis

### Issue 1: Whether the petition should be abated due to non-compliance with the necessary procedures for its …

**Ratio:** A petition can be abated if the necessary compliance with the Code and submission of the

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**Reasoning:** The court reasoned that the petitioner's failure to comply with the necessary procedures

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**Interpretation:** The interpretation of the law and notification suggests that compliance with

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**Application:** In this specific case, the petitioner's failure to comply with the necessary

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Kotak Mahindra…
- **Respondents:** India Gol…

## Timeline

- **2017-08-10 — Petitioner seeks…**: The Petitioner sought permission to…
- **2017-06-30 — Notificatio…**: Notification No.…

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