# In the matter of Pancard Clubs LImited TCP 218-I&BP-NCLT-MB-MAH-2017

> NCLT judgment dated 2017-08-22. Citation: TCN-2017-NCLT-00548. 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-00548
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pancard-clubs-limited-tcp-218-ibp-nclt-mb-mah-2017-0ec773e5

## Summary

### Background

The case pertains to a company petition filed under the Insolvency & Bankruptcy Code 2016. The matter was transferred from the High Court of Bombay, relating to provisions of Section 433(e) and 434 of the Companies Act, 1956. The petitioner/creditor was absent despite multiple opportunities, leading to the dismissal of the petition.

## Facts

The case involves a company petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition, TCP 218/I&BP/N-CLT/MB/MAH/2017, concerns M/s. Viewcraft India Private Limited and M/s. Pancard Clubs Limited. The matter was transferred from the High Court of Bombay and relates to provisions of 433(e) and 434 of the Companies Act, 1956. The petitioner/creditor was absent despite multiple opportunities to appear. The court emphasized the procedure of intimation, which includes uploading the cause list on the NCLT site, displaying directions given on hearing, and displaying the status of the cause list with the next date of hearing. Due to the petitioner's absence, the court dismissed the matter for want of prosecution. A notification dated 29.06.2017

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## Issues and analysis

### Issue 1: Whether the petition should be dismissed due to the absence of the petitioner/creditor despite …

**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 seriousness

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**Interpretation:** The interpretation is that a party must actively pursue their case and attend

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**Application:** In this case, the petitioner's absence despite multiple opportunities led the

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Respondents:** M/s. Pancard…; M/s. Viewcraft…

## Timeline

- **N/A — Transfer from H…**: The matter was transferred from the Hon'ble High Court of Bombay pertaining to the…
- **2017-06-29 — Notification…**: Notification [F.NO. 1/5/2016-CL-V] (GSR 732(E)) allows filing fresh applications under…

## 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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