# In the matter of Jasmine Buildmart Pvt. Ltd. IB 850 (ND)-2019

> NCLT judgment dated 2019-10-11. Citation: TCN-2019-NCLT-01033. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC)…

- **Court:** NCLT
- **Order date:** 11 Oct 2019
- **Citation:** TCN-2019-NCLT-01033
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jasmine-buildmart-pvt-ltd-ib-850-nd-2019-36d1d011

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) 2016. The matter was initially listed on 26.08.2019, but due to an oversight, it did not appear on the cause list. An interim order was passed, and a hearing was scheduled for 05.09.2019. Subsequently, a final order was passed on 30.09.2019, admitting the application of the Financial Creditor.

## Facts

Mr. Sahib Ram Sherawat and Ors filed a petition against Jasmine Buildmart Pvt. Ltd. under Section 7 of the IBC 2016. The matter was scheduled for hearing on 26.08.2019, but it was not listed due to inadvertence. An ex-parte order was passed on 30.09.2019, admitting the application of the Financial Creditor. The Corporate Debtor claimed they did not get a proper opportunity for hearing. The applicant's counsel submitted that the matter was not listed even on 05.09.2019. The court noted the circumstances and the submissions made by the parties.

## Issues and analysis

### Issue 1: Whether the ex-parte order dated 30.09.2019 should be set aside due to the corporate debtor not …

**Ratio:** The principle of natural justice requires that all parties be given a fair opportunity to

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**Reasoning:** The court reasoned that the corporate debtor did not receive a proper opportunity for a

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**Interpretation:** The interpretation of the law emphasizes the importance of procedural fairness

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Ch. Mohd Sharief…; K.K. V…
- **Appellants:** Sahib Ram S…
- **Respondents:** Jasmine Buildmart…

## Timeline

- **2019-08-26 — Scheduled H…**: The matter was initially scheduled for a hearing on this date but was not listed due to…
- **2019-08-23 — Emails S…**: Emails sent by the…

## 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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