# In the matter of Indusar Global Ltd. MA 601-2017 in C.P. (B)-1097(MB)2017

> NCLT judgment dated 2018-02-15. Citation: TCN-2018-NCLT-01824. The Petitioner filed a Restoration Application seeking to restore a Company Petition that had…

- **Court:** NCLT
- **Order date:** 15 Feb 2018
- **Citation:** TCN-2018-NCLT-01824
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/indusar-global-ltd-ma-601-2017-in-cp-b-1097mb2017-5fe6bad7

## Summary

### Background

The Petitioner filed a Restoration Application seeking to restore a Company Petition that had been previously dismissed based on consent terms agreed upon between the parties.

## Facts

Tata Power Trading Co. Ltd. filed a Restoration Application to restore a previously dismissed Company Petition against Indusar Global Ltd. The original dismissal was based on consent terms agreed upon by both parties. The Petitioner's counsel and the Corporate Debtor were present during the hearing. The court found that the IBC and its rules do not provide a procedure for restoring a dismissed Company Petition.

## Issues and analysis

### Issue 1: Whether the Restoration Application filed by the Petitioner for restoration of the Company Petition …

**Ratio:** There is no procedure available under the Insolvency and Bankruptcy Code (IBC) or its

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**Reasoning:** The court explicitly stated that the dismissal of the Restoration Application is based on

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**Interpretation:** The IBC and its rules are interpreted to not include any mechanism for

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**Application:** Since the Company Petition was dismissed based on consent terms, and the IBC

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## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Tata Power…
- **Respondents:** Indusar Global…

## Timeline

- **2018-02-15 — Hearing…**: Hearing of the Mumbai Bench of the…

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