# In the matter of Gurudev Financial Services Pvt. Ltd. IB-805-PB-2019

> NCLT judgment dated 2022-05-04. Citation: TCN-2022-NCLT-02917. The case pertains to an application under Section 7 of the IBC Code, 2016. The matter involves…

- **Court:** NCLT
- **Order date:** 4 May 2022
- **Citation:** TCN-2022-NCLT-02917
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gurudev-financial-services-pvt-ltd-ib-805-pb-2019-064ee069

## Summary

### Background

The case pertains to an application under Section 7 of the IBC Code, 2016. The matter involves M/s. Modland Wears Pvt. Ltd. as the petitioner and M/s. Gurudev Financial Services Pvt. Ltd. as the respondent. The order was delivered on 04.05.2022 during a virtual hearing.

## Facts

M/s. Modland Wears Pvt. Ltd. filed a petition against M/s. Gurudev Financial Services Pvt. Ltd. under Section 7 of the IBC Code, 2016. The court heard submissions from the Proxy Counsel for the Financial Creditor. The court directed the Financial Creditor's counsel to appear at the next hearing, provide the Tribunal with the case background, and inform the Corporate Debtor and its counsel to appear as well. The Court Officer was instructed to serve e-notices. Failure to appear at the next hearing on 20.05.2022 would result in dismissal.

## Issues and analysis

### Issue 1: Whether the Counsel for the Financial Creditor should be directed to appear on the next date of …

**Ratio:** The Tribunal has the authority to direct parties to appear and provide information

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**Reasoning:** The court needs to understand the complete background of the matter to make an informed

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**Interpretation:** This ensures that the Tribunal has all the necessary information to adjudicate

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**Application:** The Counsel for the Financial Creditor is directed to appear and provide the

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** M/s. Modland…
- **Respondents:** M/s. Gurudev…
- **Advocates:** Aditya…; Sahil Ch…

## Timeline

- **2022-05-04 — Order Del…**: Order delivered on…
- **2022-05-20 — Next Hearin…**: Matter listed on 20.05.2022. Failure…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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