# In the matter of Swarna Infracon Pvt. Ltd. T.C.P. No. 452-(MAH)-2017

> NCLT judgment dated 2017-12-01. Citation: TCN-2017-NCLT-00113. The case pertains to a Transfer Company Petition (TCP) that was initially filed and…

- **Court:** NCLT
- **Order date:** 1 Dec 2017
- **Citation:** TCN-2017-NCLT-00113
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/swarna-infracon-pvt-ltd-tcp-no-452-mah-2017-aa88226d

## Summary

### Background

The case pertains to a Transfer Company Petition (TCP) that was initially filed and subsequently transferred from the High Court to the National Company Law Tribunal (NCLT), Mumbai Bench. The requisite form submitted was found to be defective. The petition was abated due to a notification dated June 29, 2017.

## Facts

A Transfer Company Petition (TCP No. 452/(MAH)/2017) was transferred from the High Court to the Mumbai Bench of the National Company Law Tribunal (NCLT). The requisite form submitted on July 25, 2017, was found to be defective. A notification dated June 29, 2017, [F. No. 1/5/2016-CL-V] (GSR 732(E)) resulted in the abatement of the petition. The notification allows parties to file fresh applications under sections 7, 8, or 9 of the Insolvency and Bankruptcy Code (IBC) after July 15, 2017. The petitioner, represented by Sudip Mallick, was granted liberty to file a fresh petition under the Code.

## Issues and analysis

### Issue 1: Whether the Transfer Company Petition (TCP) is maintainable given the defective form submission and …

**Ratio:** A petition found to be defective and affected by a subsequent notification leading to its

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**Reasoning:** The court reasoned that the defective form and the notification dated June 29, 2017,

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**Interpretation:** The interpretation is that procedural compliance and adherence to updated

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**Application:** In this case, the defective form submission and the notification directly led

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Sudip Ma…
- **Respondents:** Suwarna Infracon…

## Timeline

- **2017-06-29 — Notificatio…**: Notification [F. No. 1/5/2016-CL-V] (GSR 732(E)) issued, leading to the abatement of the…
- **2017-07-15 — Eligibility Date for…**: Parties eligible to file fresh applications under sections 7, 8, or 9 of the Code after…

## 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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