The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant was M/s. Graphisads Pvt Ltd, and the respondent was M/s. Ansal Hi - Tech Townships Ltd. The matter was listed before the National Company Law Tribunal (NCLT), New Delhi. Despite repeated calls, no one appeared for the applicant. The record indicates that even on the last date of hearing, the parties were seeking adjournment based on ongoing settlement talks. The court observed that the petitioner was not interested in pursuing the matter.
M/s. Graphisads Pvt Ltd filed a petition against M/s. Ansal Hi - Tech Townships Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. On the date of the hearing, no one appeared for the applicant, M/s. Graphisads Pvt Ltd, despite repeated calls. The court record showed that the parties had been seeking adjournment to facilitate settlement talks. The court inferred that the petitioner was not interested in pursuing the matter. This lack of interest, combined with the ongoing settlement discussions, led the court to dismiss the petition for non-prosecution. The relevance of the settlement talks is that it indicates a potential resolution outside of the formal legal process, and the applicant's absence suggests a lack of commitment to pursuing the legal action.
Sign in to view the parties.
Order delivered dismissing the petition…
Sign in to view related legal provisions.
The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant was M/s. Graphisads Pvt Ltd, and the respondent was M/s. Ansal Hi - Tech Townships Ltd. The matter was listed before the National Company Law Tribunal (NCLT), New Delhi. Despite repeated calls, no one appeared for the applicant. The record indicates that even on the last date of hearing, the parties were seeking adjournment based on ongoing settlement talks. The court observed that the petitioner was not interested in pursuing the matter.
M/s. Graphisads Pvt Ltd filed a petition against M/s. Ansal Hi - Tech Townships Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. On the date of the hearing, no one appeared for the applicant, M/s. Graphisads Pvt Ltd, despite repeated calls. The court record showed that the parties had been seeking adjournment to facilitate settlement talks. The court inferred that the petitioner was not interested in pursuing the matter. This lack of interest, combined with the ongoing settlement discussions, led the court to dismiss the petition for non-prosecution. The relevance of the settlement talks is that it indicates a potential resolution outside of the formal legal process, and the applicant's absence suggests a lack of commitment to pursuing the legal action.
Order delivered dismissing the petition…
Sign in to view related legal provisions.