# In the matter of Sharma Kalypso Private Limited

> NCLT judgment dated 2023-07-27. Citation: TCN-2023-NCLT-02306. The case pertains to Contempt Petition-30/2023 before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 27 Jul 2023
- **Citation:** TCN-2023-NCLT-02306
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sharma-kalypso-private-limited-6c7d8ed3

## Summary

### Background

The case pertains to Contempt Petition-30/2023 before the National Company Law Tribunal (NCLT), New Delhi Bench (Court – II). The applicant/petitioner is Corporation Bank, and the respondent is M/s. Sharma Kalypso Private Limited. The case is filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

Corporation Bank filed a case under Section 7 of the IBC, 2016 against M/s. Sharma Kalypso Private Limited. The respondent, M/s. Sharma Kalypso Private Limited, failed to appear despite being served notice. The applicant, Corporation Bank, is directed to serve a fresh notice to the respondent, returnable on 17.08.2023, through all modes of service, including registered post, speed post, courier service, and email. The applicant is required to file an affidavit of service within one week. The respondent has one week from the date of receipt of the notice to file a reply. The court has warned that if the respondent fails to appear on the next date of hearing, non-bailable warrants may be issued for their production. A copy of the order is to be sent to IBBI to recover

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## Issues and analysis

### Issue 1: Whether fresh notice should be issued to the respondent, M/s. Sharma Kalypso Private Limited, given …

**Ratio:** The principle of natural justice requires that all parties to a legal proceeding be given

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**Reasoning:** The court reasoned that despite the initial service of notice, the respondent's

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**Interpretation:** This interpretation emphasizes the court's commitment to ensuring due process

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**Application:** The court applied this principle by directing the applicant to issue a fresh

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## Parties

- **Judges:** SHRI. ASHOK KUMAR…; SHRI. L. N.…
- **Appellants:** Corporatio…
- **Respondents:** M/s. Sharma…
- **Advocates:** Aakan…; Videh V…; +3 more

## Timeline

- **2023-07-27 — Order Del…**: Order delivered by the…
- **2023-08-17 — Next Hearin…**: Next date of hearing…

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