# In the matter of Volant Textile Mills Ltd. T.C.P. No. 758-(MAH)-2017

> NCLT judgment dated 2017-09-08. Citation: TCN-2017-NCLT-00446. The case pertains to T.C.P No. 758/(MAH)/2017 before the National Company Law Tribunal, Mumbai…

- **Court:** NCLT
- **Order date:** 8 Sept 2017
- **Citation:** TCN-2017-NCLT-00446
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/volant-textile-mills-ltd-tcp-no-758-mah-2017-98ea69d6

## Summary

### Background

The case pertains to T.C.P No. 758/(MAH)/2017 before the National Company Law Tribunal, Mumbai Bench. The hearing was held on 08.09.2017. The parties involved are Pramay Tex versus Volant Textile Mills Ltd.

## Facts

The case involves Pramay Tex as the applicant against Volant Textile Mills Ltd. The crucial fact is that the Form required under the Insolvency & Bankruptcy Code, 2016, was not filed on or before 15.7.2017. This non-compliance resulted in the abatement of the Company Petition. The notification dated 29.6.2017 is also relevant.

## Issues and analysis

### Issue 1: Whether the Company Petition should be abated due to the non-filing of the required form under the …

**Ratio:** The legal principle applied is that failure to comply with the procedural requirements of

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**Reasoning:** The court reasoned that since the Form under the Insolvency & Bankruptcy Code, 2016,

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**Interpretation:** This interprets the procedural requirements of the Insolvency & Bankruptcy

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

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## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Pramay…
- **Respondents:** Volant Textile…

## Timeline

- **2017-06-29 — Notificatio…**: Notification mentioned…
- **2017-07-15 — Deadline for Fi…**: Deadline for filing the Form under…

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