# In the matter of Perfect Engineering Products Ltd. T.C.P. No. 608-(MAH)-2017

> NCLT judgment dated 2017-09-06. Citation: TCN-2017-NCLT-00464. The case involves a petition that was initially transferred from the Hon'ble High Court to the…

- **Court:** NCLT
- **Order date:** 6 Sept 2017
- **Citation:** TCN-2017-NCLT-00464
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/perfect-engineering-products-ltd-tcp-no-608-mah-2017-6f472974

## Summary

### Background

The case involves a petition that was initially transferred from the Hon'ble High Court to the National Company Law Tribunal (NCLT), Mumbai Bench. The petitioner's representative is present during the hearing. The petition was related to compliance under the I&BP Code 2016.

## Facts

The petition was transferred from the Hon'ble High Court to the NCLT Mumbai Bench. The petitioner's representative was present at the hearing. The admitted factual position is that the petitioner has not complied with the I&BP Code. Notification No. GSR-732(E) dated 30.06.2017 set the last date for compliance as 15.07.2017. Due to non-compliance, the transferred petition from the Hon'ble High Court stood abated. However, the petitioner is granted liberty to file a fresh petition as per the 1st Proviso to the Notification.

## Issues and analysis

### Issue 1: Whether the petition should be disposed of …

**Ratio:** The legal principle applied is that compliance with the I&BP Code is mandatory for

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**Reasoning:** The court reasoned that since the petitioner had not complied with the I&BP Code, and

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**Interpretation:** This issue involves the interpretation of the I&BP Code and related

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Shree Satya…
- **Respondents:** Perfect Engineerin…

## Timeline

- **2017-06-30 — Notificatio…**: Notification No. GSR-732(E) was issued,…
- **2017-07-15 — Compliance D…**: The last date for compliance as…

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