# In the matter of Rathi Industries Limited

> NCLT judgment dated 2023-08-21. Citation: TCN-2023-NCLT-01979. The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 21 Aug 2023
- **Citation:** TCN-2023-NCLT-01979
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rathi-industries-limited-16ee3501

## Summary

### Background

The case pertains to an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter involves M/s. Sarvottam Rolling Mills Pvt. Ltd. as the Petitioner/Applicant and M/s. Rathi Industries Limited as the Respondent. The order was delivered on August 21, 2023.

## Facts

M/s. Sarvottam Rolling Mills Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Rathi Industries Limited. When the matter was called for hearing on August 21, 2023, neither the applicant nor the respondent appeared before the National Company Law Tribunal (NCLT), New Delhi. Consequently, the court adjourned the matter to August 22, 2023, and directed the Interim Resolution Professional (IRP), Ms. Veenu Drall, to appear on the adjourned date. The IRP's registration number is IBBI/IPA-001/IP-P-02504/2021-2022/13816.

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, can proceed in …

**Ratio:** The presence of either the applicant or the respondent is generally required for the

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**Reasoning:** The court adjourned the matter to the next day, indicating that the absence of both

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**Interpretation:** The interpretation is that while the presence of parties is desirable, the

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**Application:** In this specific case, the court's decision to adjourn the matter to August 22,

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## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Appellants:** M/s. Sarvottam…
- **Respondents:** M/s. Rathi…

## Timeline

- **2023-08-21 — Hearing…**: The matter was called for…
- **2023-08-22 — Next Hearin…**: Matter listed for…

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