The problem is the length of time that IND has been suspended...

The problem is the length of time that IND has been suspended and the ASX rules regarding the same.
If I recall correctly IND has been in suspension for some 3 years because it had no viable activity and was searching around for a suitable venture that it could buy or get engaged with in order to satisfy ASX requirements.
Unfortunately, after a few possibilities were investigated and decided against or fell through, the plan to do a reverse takeover of New Era came a bit late in the day. There was a considerable amount of time and effort required it seems to put together the proposal and get all the documents compiled to the satisfaction of the ASX.
Time was fast running out and they did get an extension until early November by which time the job had to be completed or the company would be removed and wound up.
Again, unfortunately not enough shareholders or punters were prepared to roll up and back the capital raising to the required level so the last hope for IND's survival has had to be abandoned and the ASX rules applied.IND just ran out of time despite the extension and was not supported in its last ditch attempt to provide a viable way forward for long suffering shareholders.
In my opinion it was a potential chance to get the company back into positive action and a brighter future given the injection of able oil and gas management and very prospective acreage. Sadly many previous shareholders did not seem to be able to see beyond their bruised experience of past performances and see that there was a future being offered in the new direction.
So there we go. Chance gone. There is no more folks.