This case involves an application (IA/707/CHE/2021) filed under Rule 49 of the NCLT Rules, 2016, seeking to set aside an ex-parte order dated 18/01/2021 passed by the National Company Law Tribunal (NCLT) in IBA/140/2020, which admitted Ad Mart Private Limited into Corporate Insolvency Resolution Process (CIRP). The applicant, Ramji Venkatraman, the suspended director of Ad Mart Private Limited, argues that the ex-parte order should be set aside because he was not properly notified of the proceedings. The respondent, ACI Wonderwood Products, initiated the CIRP under Section 9 of the IBC, 2016, claiming that Ad Mart Private Limited had defaulted on payments for substandard materials supplied. The NCLT had previously ordered notice to the corporate debtor, but it was

This case involves an application (IA/707/CHE/2021) filed under Rule 49 of the NCLT Rules, 2016, seeking to set aside an ex-parte order dated 18/01/2021 passed by the National Company Law Tribunal (NCLT) in IBA/140/2020, which admitted Ad Mart Private Limited into Corporate Insolvency Resolution Process (CIRP). The applicant, Ramji Venkatraman, the suspended director of Ad Mart Private Limited, argues that the ex-parte order should be set aside because he was not properly notified of the proceedings. The respondent, ACI Wonderwood Products, initiated the CIRP under Section 9 of the IBC, 2016, claiming that Ad Mart Private Limited had defaulted on payments for substandard materials supplied. The NCLT had previously ordered notice to the corporate debtor, but it was