# In the matter of Vexta Laboratories Private Limited C.P.(IB)969-MB-2019

> NCLT judgment dated 2022-09-29. Citation: TCN-2022-NCLT-00882. The case pertains to a Company Petition bearing CP (IB) No. 969 of 2019 before the National…

- **Court:** NCLT
- **Order date:** 29 Sept 2022
- **Citation:** TCN-2022-NCLT-00882
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vexta-laboratories-private-limited-cpib969-mb-2019-a1d2dc98

## Summary

### Background

The case pertains to a Company Petition bearing CP (IB) No. 969 of 2019 before the National Company Law Tribunal (NCLT), Mumbai Bench. The matter was called out for hearing on 29.09.2022. Neither the applicant nor the respondent was present during the hearing. The record indicates a lack of representation from either side since 11.01.2022.

## Facts

The Company Petition CP (IB) No. 969 of 2019 was listed for hearing on 2022-09-29. Neither the applicant (Sterile India Private Limited) nor the respondent (Vexta Laboratories Private Limited) was present. The court noted the absence of representation from either side since 2022-01-11. The continuous absence of the Operational Creditor (Sterile India Private Limited) led the court to believe that the creditor was no longer inclined to pursue the claim. This absence is a key fact that influenced the court's decision to dismiss the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition CP (IB) No. 969 of 2019 should be dismissed due to the absence of the …

**Ratio:** The ratio is based on the principle that a court may dismiss a case if the parties fail

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**Reasoning:** The court reasoned that the continuous absence of the Operational Creditor, coupled with

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**Interpretation:** The interpretation is that the absence of parties, especially the Operational

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** SH. SHYAM BABU…; P.N. Des…
- **Appellants:** Sterile India…
- **Respondents:** Vexta Laboratories…

## Timeline

- **2022-01-11 — No Represen…**: No representation from…
- **2022-09-29 — Hearing…**: Hearing of the Company Petition CP (IB) No. 969 of 2019. Neither applicant nor respondent…

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