# In the matter of Pancard Clubs Limited Company Petition No. TCP 218-I&BP-NCLT-MB-MAH-2017

> NCLT judgment dated 2017-08-22. Citation: TCN-2017-NCLT-00554. 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-00554
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pancard-clubs-limited-company-petition-no-tcp-218-ibp-nclt-mb-mah-2017-11ab31ca

## Summary

### Background

The case pertains to a company petition filed under the Insolvency & Bankruptcy Code 2016. The matter was initially transferred from the Hon'ble High Court of Bombay, relating to provisions of 433(e) and 434 of the Companies Act, 1956. The NCLT publicized a list of transferred cases to inform the concerned parties. The procedure of intimation involves uploading the cause list daily on the NCLT site, displaying hearing directions daily on the official site, and displaying the cause list status with the next hearing date on the official site.

## Facts

The case involves a company petition initially filed under the Companies Act, 1956, and subsequently transferred to the National Company Law Tribunal (NCLT) under the Insolvency & Bankruptcy Code, 2016. The petitioner, despite being given multiple opportunities, failed to appear before the court. The NCLT had taken steps to publicize the transferred cases and inform the parties involved. The petitioner's absence led the court to believe that they were not serious about pursuing the petition. A notification dated 29.06.2017 allowed parties to file fresh applications under sections 7, 8, or 9 of the Insolvency & Bankruptcy Code after July 15, 2017. The case involves M/s. Viewcraft India Private Limited and M/s. Pancard Clubs Limited.

## Issues and analysis

### Issue 1: Whether the petition should be dismissed due to the …

**Ratio:** A petition can be dismissed for want of prosecution if the petitioner fails to appear

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**Reasoning:** The court reasoned that the petitioner's repeated absence indicated a lack of interest in

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**Interpretation:** The interpretation is that the court has the discretion to dismiss a petition

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**Application:** In this case, the petitioner's absence led the court to conclude that they were

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Respondents:** VIEWCRAFT INDIA…

## Timeline

- **2017-06-29 — Notification…**: Notification [F.NO. 1/5/2016-CL-V] (GSR 732(E)) issued allowing parties to file fresh…
- **2017-08-22 — Order Da…**: Order dated 22.08.2017 dismissing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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