# In the matter of Monet Exports Pvt. Ltd. (IB)-1347-(PB)-2018

> NCLT judgment dated 2018-10-15. Citation: TCN-2018-NCLT-00571. The case involves an application (CA-1034(PB)/2018) by Alchemist Asset Reconstruction Co. Pvt.…

- **Court:** NCLT
- **Order date:** 15 Oct 2018
- **Citation:** TCN-2018-NCLT-00571
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/monet-exports-pvt-ltd-ib-1347-pb-2018-99167ef4

## Summary

### Background

The case involves an application (CA-1034(PB)/2018) by Alchemist Asset Reconstruction Co. Pvt. Ltd. seeking permission for substituted service on the respondent, Monet Exports Pvt. Ltd. The applicant asserts that attempts to serve the respondent at its registered office address have failed, as the parcel sent to the Director, Mr. Rajinder Nath, was returned. Furthermore, the applicant claims to have taken possession of the registered office under Section 13(4) of the SARFAESI Act, 2016, making ordinary service impossible.

## Facts

Alchemist Asset Reconstruction Co. Pvt. Ltd. filed an application (CA-1034(PB)/2018) seeking substituted service on Monet Exports Pvt. Ltd. The applicant attempted to serve the respondent at its registered office, but the parcel was returned. The applicant also asserted that they had taken possession of the respondent's registered office under Section 13(4) of the SARFAESI Act, 2016. This possession made ordinary service impossible, leading the applicant to request substituted service. The tracking report of the returned parcel was placed on record as evidence. The Director of Monet Exports Pvt. Ltd. is Mr. Rajinder Nath.

## Issues and analysis

### Issue 1: Whether the applicant, Alchemist Asset Reconstruction Co. Pvt. Ltd., should be granted permission …

**Ratio:** Substituted service is permitted when ordinary service is not possible. Order V Rule 20

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**Reasoning:** The court reasoned that the applicant's possession of the respondent's registered office,

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**Interpretation:** The court interpreted Order V Rule 20 of the CPC and Rule 38 of the NCLT Rules,

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**Application:** The court applied the ratio to the facts by acknowledging that the applicant's

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## Parties

- **Judges:** M. M. K…; DEEPTI M…
- **Appellants:** Alchemist Asset…
- **Respondents:** Monet Exports…

## Timeline

- **2018-10-15 — Order Del…**: Order delivered by the NCLT permitting…

## 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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