# In the matter of MAV Steels Private Limited

> NCLT judgment dated 2023-07-14. Citation: TCN-2023-NCLT-05314. This is an application filed under Rule 49(2) read with Rule 11 of the National Company Law…

- **Court:** NCLT
- **Order date:** 14 Jul 2023
- **Citation:** TCN-2023-NCLT-05314
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/mav-steels-private-limited-01638e23

## Summary

### Background

This is an application filed under Rule 49(2) read with Rule 11 of the National Company Law Tribunal Rules, 2016, for setting aside the ex-parte order dated 18/11/2022 passed in IB-393/(ND)/2022.

## Facts

An application was filed to set aside the ex-parte order dated 18.11.2022 passed in IB-393/(ND)/2022.

The main Company Petition IB–393/(ND)/2022 was filed by the Operational Creditor.

The Corporate Debtor transferred Rs. 30,00,000/- to the Operational Creditor in the month of September as part of a settlement.

The Corporate Debtor's authorized person joined the matter virtually on 18.11.2022, but the appearance was not recorded due to unstable internet connectivity, leading to the ex-parte order.

The Tribunal allowed the application subject to a cost of Rs. 25,000/- to be deposited by the Applicant (MAV Steels Private Limited).

## Issues and analysis

### Issue 1: Whether the ex-parte order dated …

**Ratio:** Rule 49(2) read with Rule 11 of the National Company Law Tribunal Rules, 2016 allows the

…

**Reasoning:** The Corporate Debtor provided a reason for their non-appearance (unstable internet

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**Interpretation:** The Tribunal considered the circumstances and the settlement efforts between

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**Application:** The Tribunal applied the rules and allowed the application to set aside the

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Respondents:** M/s. MAV Steels…; M/s. MAV Steels…; +1 more
- **Other parties:** M/s. Sunder…
- **Advocates:** Prachi…; Saurabh S…; +1 more

## Timeline

- **2022-11-18 — Ex-parte…**: Ex-parte order passed…
- **2023-07-14 — Order Pron…**: Order pronounced allowing the application to set aside the ex-parte order subject to…

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