# In the matter of Mayank Electro Limited Company Petition No. TCP 456-I&BP-NCLT-MB-MAH-2017

> NCLT judgment dated 2017-08-22. Citation: TCN-2017-NCLT-00546. The case pertains to a Company Petition filed under the Insolvency & Bankruptcy Code 2016. The…

- **Court:** NCLT
- **Order date:** 22 Aug 2017
- **Citation:** TCN-2017-NCLT-00546
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mayank-electro-limited-company-petition-no-tcp-456-ibp-nclt-mb-mah-2017-ad786d2b

## Summary

### Background

The case pertains to a Company Petition filed under the Insolvency & Bankruptcy Code 2016. The matter was transferred from the Hon'ble High Court. The petitioner was required to fulfill certain compliances under the Insolvency & Bankruptcy Code, which they failed to do.

## Facts

M/s. Art Electrical Industries filed a Company Petition under the Insolvency & Bankruptcy Code 2016. The case was transferred from the Hon'ble High Court. M/s. Mayank Electro Limited is the respondent in this case. The petitioner, Art Electrical Industries, was required to comply with certain provisions of the Insolvency & Bankruptcy Code. However, the petitioner failed to furnish the necessary forms. The respondent, Mayank Electro Limited, referred to a notification dated 17.05.2017, which states that if there is non-compliance with the provisions of the Code, the transferred petition gets abated.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed due to the petitioner's non-compliance with the provisions …

**Ratio:** A petition can be dismissed if the petitioner fails to comply with the mandatory

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**Reasoning:** The court observed that the petitioner failed to furnish the requisite forms as required

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**Interpretation:** The Insolvency & Bankruptcy Code mandates specific compliances from the

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**Application:** In this case, the petitioner's failure to furnish the necessary forms, a

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** M/s. Art Electrica…
- **Respondents:** M/s. Mayank…

## Timeline

- **2017-05-17 — Notificatio…**: Notification stating that non-compliance with the provisions of the Code results in the…
- **2017-08-22 — Order Da…**: The petition was dismissed due to the petitioner's non-compliance with the provisions of…

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