# In the matter of Saravana Stores Gold Palace Pvt. Ltd. IBA-357-2020

> NCLT judgment dated 2021-03-03. Citation: TCN-2021-NCLT-02841. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 3 Mar 2021
- **Citation:** TCN-2021-NCLT-02841
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/saravana-stores-gold-palace-pvt-ltd-iba-357-2020-1be65385

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The hearing was held on March 3, 2021, via video conferencing at the Chennai Bench of the National Company Law Tribunal (NCLT).

## Facts

The case involves an insolvency application (IBA/357/2020) filed by Shri Sai Marketing against Saravana Stores Gold Palace Pvt. Ltd. under Section 9 of the IBC, 2016. On March 3, 2021, a hearing was conducted via video conferencing. However, neither Shri Sai Marketing (the petitioner) nor Saravana Stores Gold Palace Pvt. Ltd. (the corporate debtor) were present. Due to their absence, the NCLT dismissed the petition for non-prosecution. The absence of both parties suggests a lack of active pursuit of the case, leading to its dismissal.

## Issues and analysis

### Issue 1: Whether the petition under Section 9 of IBC should be dismissed due to the absence of both the …

**Ratio:** The legal principle applied is that a case can be dismissed for non-prosecution if the

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**Reasoning:** The court reasoned that the absence of both the petitioner and the corporate debtor

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**Interpretation:** This interpretation highlights the importance of active participation by both

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**Application:** In this specific case, the absence of both Shri Sai Marketing (the petitioner)

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** Sai Mark…
- **Respondents:** Saravana Stores…

## Timeline

- **2021-03-03 — Hearing…**: Hearing held on 03.03.2021 at 2.00…
- **2020-01-01 — Case Fil…**: IBA/357/2020 filed under…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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