# In the matter of Swastik Ispat (P) Ltd. CP (IB) No. 49-KB-2019

> NCLT judgment dated 2019-03-05. Citation: TCN-2019-NCLT-04594. The case pertains to CP (IB) No. 49/KB/2019 before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 5 Mar 2019
- **Citation:** TCN-2019-NCLT-04594
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/swastik-ispat-p-ltd-cp-ib-no-49-kb-2019-ca647516

## Summary

### Background

The case pertains to CP (IB) No. 49/KB/2019 before the National Company Law Tribunal (NCLT), Kolkata Bench. The matter involves Maruti Steels Vs. Swastik Ispat (P) Ltd. The hearing was scheduled for March 5th, 2019. The case is related to Section 9 of the IBC.

## Facts

The case CP (IB) No. 49/KB/2019 was heard at the NCLT Kolkata bench on March 5th, 2019. The matter involves Maruti Steels as the Operational Creditor and Swastik Ispat (P) Ltd. The case was filed under Section 9 of the IBC. The Operational Creditor did not appear for the hearing. Despite directions to serve notice to the Corporate Debtor, no steps were taken by the Operational Creditor. As a result, the case was dismissed for non-prosecution.

## Issues and analysis

### Issue 1: Whether the application should be dismissed due to the Operational Creditor's absence and failure …

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

…

**Reasoning:** The court reasoned that since the Operational Creditor was absent and failed to take

…

**Interpretation:** This interpretation aligns with the procedural rules and principles of natural

…

**Application:** In this specific case, the absence of the Operational Creditor and the failure

…

## Parties

- **Judges:** Jinan…
- **Appellants:** Maruti S…
- **Respondents:** Swastik Ispat (P)…

## Timeline

- **2019-03-05 — Hearing…**: Hearing held on March…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/swastik-ispat-p-ltd-cp-ib-no-49-kb-2019-ca647516