# In the matter of Jetspeed Tradecom Pvt. Ltd. C.P. (IB)-2304(MB)-2019

> NCLT judgment dated 2021-07-05. Citation: TCN-2021-NCLT-01858. The case pertains to a matter before the National Company Law Tribunal (NCLT), Mumbai Bench,…

- **Court:** NCLT
- **Order date:** 5 Jul 2021
- **Citation:** TCN-2021-NCLT-01858
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jetspeed-tradecom-pvt-ltd-cp-ib-2304mb-2019-580eedea

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), Mumbai Bench, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petitioner, Risa International Ltd, initiated proceedings against the respondent, Jetspeed Tradecom Pvt Ltd. The Tribunal had previously directed the petitioner to file a service affidavit.

## Facts

Risa International Ltd filed a case against Jetspeed Tradecom Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT, Mumbai Bench, directed Risa International Ltd to file a service affidavit. However, Risa International Ltd failed to file the affidavit and did not appear before the Tribunal on the hearing date of 05.07.2021. The Tribunal interpreted this inaction as a lack of interest in prosecuting the matter.

## Issues and analysis

### Issue 1: Whether the failure of the petitioner to file a service affidavit and appear before the Tribunal …

**Ratio:** The ratio is that a petitioner's failure to comply with Tribunal orders and

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**Reasoning:** The Tribunal reasoned that the petitioner's failure to file the service affidavit, as

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**Interpretation:** This interpretation emphasizes the importance of adhering to procedural

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

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## Parties

- **Judges:** H.V. Subb…; Chandra Bha…
- **Appellants:** RISA INTERNATIONAL…
- **Respondents:** Jetspeed Tradecom…

## Timeline

- **2021-02-25 — Tribunal…**: The Tribunal directed the…
- **2021-07-05 — Hearing…**: The petitioner failed to…

## 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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