# In the matter of Faridabad Stampings Pvt. Ltd. IA-5592-ND-2021 in IB-261-ND-2020

> NCLT judgment dated 2022-05-17. Citation: TCN-2022-NCLT-02735. The case involves IA/5592/ND/2021 filed on behalf of the Petitioner, taking on record Form-2 of…

- **Court:** NCLT
- **Order date:** 17 May 2022
- **Citation:** TCN-2022-NCLT-02735
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/faridabad-stampings-pvt-ltd-ia-5592-nd-2021-in-ib-261-nd-2020-26778095

## Summary

### Background

The case involves IA/5592/ND/2021 filed on behalf of the Petitioner, taking on record Form-2 of the proposed Insolvency Professional, Preet Singh IRP. An application was filed for setting aside the ex-parte order dated 27.08.2021, which was stated to have been filed in September 2021 but was not listed before the Tribunal.

## Facts

Swastik Pipe Ltd filed an application against M/s Faridabad Stampings Pvt Ltd under Section 9 of the IBC. IA/5592/ND/2021 was filed on behalf of the Petitioner, taking on record Form-2 of the proposed Insolvency Professional, Preet Singh IRP. The Respondent's counsel stated that an application had been filed to set aside the ex-parte order dated 27.08.2021, which was stated to have been filed in September 2021 but was not listed before the Tribunal. The matter has been pending since 2020.

## Issues and analysis

### Issue 1: Whether IA/5592/ND/2021 should be disposed of, taking into account the Form-2 of the proposed …

**Ratio:** The court has the power to dispose of applications and take documents on record as part

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**Reasoning:** The Tribunal took Form-2 of the proposed Insolvency Professional on record and disposed

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**Interpretation:** The court's action indicates a procedural step in the insolvency resolution

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**Application:** The Tribunal's decision to take Form-2 on record and dispose of the IA

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## Parties

- **Judges:** DHARMINDER…; SUMITAPURKA…
- **Appellants:** Swastik Pi…
- **Respondents:** M/s Faridabad…

## Timeline

- **2021-08-27 — Ex-parte Ord…**: An ex-parte order was…
- **2021-09-01 — Application…**: An application was stated to have been filed…

## 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)

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