# In the matter of Rathi Industries Limited

> NCLT judgment dated 2023-08-21. Citation: TCN-2023-NCLT-01984. 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-01984
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rathi-industries-limited-84c68169

## 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 (IBC), 2016, against M/s. Rathi Industries Limited. When the matter was called for hearing on August 21, 2023, no one appeared on behalf of either party. The court then directed that the matter be listed for the next day, August 22, 2023, and that the Interim Resolution Professional (IRP), Ms. Veenu Drall, appear on that date. Ms. Veenu Drall's registration number is IBBI/IPA-001/IP-P-02504/2021-2022/13816.

## Issues and analysis

### Issue 1: Whether the matter should be adjourned due to the …

**Ratio:** When neither party is present for a scheduled hearing, the court has the discretion to

…

**Reasoning:** The court reasoned that since no one appeared when the matter was called, it was

…

**Interpretation:** This reflects the court's inherent power to manage its proceedings and ensure

…

**Application:** Given the absence of both the applicant and the respondent, the court applied

…

## Parties

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

## Timeline

- **2023-08-21 — Hearing…**: The matter was called for hearing, but no one appeared for either the applicant or the…
- **2023-08-22 — Next Hearin…**: The matter was listed for the next day, August 22, 2023, for the appearance of IRP Ms.…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/rathi-industries-limited-84c68169