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

> NCLT judgment dated 2022-09-29. Citation: TCN-2022-NCLT-00888. 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-00888
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vexta-laboratories-private-limited-cpib969-mb-2019-d6cb835d

## Summary

### Background

The case pertains to a Company Petition bearing CP (IB) No. 969 of 2019 before the National Company Law Tribunal, Mumbai Bench. The matter was called out for hearing on 29.09.2022. The applicant and respondent were not present.

## Facts

The Company Petition CP (IB) No. 969 of 2019 was listed for hearing on 29.09.2022. Neither the applicant nor the respondent was present during the hearing. The record indicates that there has been no representation from either side since 11.01.2022. The Operational Creditor's continued absence suggests they are no longer interested in pursuing the claim. This led the bench to dismiss the Company Petition.

## Issues and analysis

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

**Ratio:** When a party, particularly the Operational Creditor, demonstrates a continuous lack of

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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 consistent absence and lack of representation by a

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**Application:** In this case, the Operational Creditor's continuous absence and lack of

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## Parties

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

## Timeline

- **2022-01-11 — No Represen…**: Record reveals that there is no…
- **2022-09-29 — Hearing…**: Order sheet of the hearing. Neither…

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