# In the matter of Ixora Corporate Services Pvt. Ltd. CP (IB) No. 517-9-HDB-2019

> NCLT judgment dated 2021-10-01. Citation: TCN-2021-NCLT-00896. The case involves a Company Petition/Application filed under the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 1 Oct 2021
- **Citation:** TCN-2021-NCLT-00896
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ixora-corporate-services-pvt-ltd-cp-ib-no-517-9-hdb-2019-fee8de3c

## Summary

### Background

The case involves a Company Petition/Application filed under the Insolvency and Bankruptcy Code (IBC). The Operational Creditor has not been appearing for more than a year.

## Facts

The Company Petition/Application CP (IB) No. 517/9/HDB/2019 was filed. The Corporate Debtor is Ixora Corporate Services Pvt Ltd. The Petitioner is Mundada Traders. The Respondent is Ixora Corporate Services Pvt Ltd. The case is filed under Section 9 of the IBC. The Operational Creditor has not appeared for more than a year. The Learned Counsel for the Corporate Debtor is present in person.

## Issues and analysis

### Issue 1: Whether the matter should be disposed of due to the Operational Creditor's absence and lack of …

**Ratio:** The court has the discretion to dismiss a case for non-prosecution if the petitioner

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**Reasoning:** The Operational Creditor's absence for over a year suggests a lack of interest in

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**Interpretation:** The court interprets the prolonged absence as an indication that the

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**Application:** Given the Operational Creditor's absence, the court applies the principle of

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## Parties

- **Judges:** Shrimadan…; Veera Brahma Rao…
- **Appellants:** Mundada T…
- **Respondents:** Ixora Corporate…

## Timeline

- **2021-10-01 — Hearing…**: Hearing held on…

## 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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