# In the matter of Ameya Laboratories Ltd (ALL) Vs. Kotak Mahindra Bank & Ors. CA(AT) No. 192-2017

> NCLAT judgment dated 2018-01-12. Citation: TCN-2018-NCLAT-00396. Ameya Laboratories Ltd (ALL), the corporate applicant, filed an application under Section 10…

- **Court:** NCLAT
- **Order date:** 12 Jan 2018
- **Citation:** TCN-2018-NCLAT-00396
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ameya-laboratories-ltd-all-vs-kotak-mahindra-bank-ors-ca-9cdd35a7

## Summary

### Background

Ameya Laboratories Ltd (ALL), the corporate applicant, filed an application under Section 10 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process. The Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, rejected the application through an order dated August 21, 2017, citing various reasons, including the pendency of winding-up proceedings. The corporate applicant appealed this decision.

## Facts

Ameya Laboratories Ltd (ALL) filed an application under Section 10 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process. The NCLT Hyderabad rejected the application on August 21, 2017, citing the pendency of winding-up proceedings. The High Court of Andhra Pradesh had already passed an order for winding up the appellant company under Sections 433 and 434 of the Companies Act, 1956, but this order was stayed by a Division Bench due to a pending matter before BIFR. The appellant argued that the Section 10 application was complete and that the winding-up proceedings should not bar the application. The respondent contended that the winding-up proceedings preclude the application under Section 10, citing Section 11(d)

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in rejecting the application under Section 10 of …

**Ratio:** An application under Section 10 of the I&B Code is not maintainable if winding-up

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**Reasoning:** The NCLAT relied on the provisions of Section 11(d) of the I&B Code, which specifies

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**Interpretation:** Section 11(d) of the I&B Code clearly bars a corporate debtor from

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**Application:** In this case, the High Court of Andhra Pradesh had already initiated winding-up

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Ms Varsha B…
- **Respondents:** Ameya Laboratories…; Mr.Uddyam…

## Timeline

- **2017-08-21 — NCLT Ord…**: The National Company Law Tribunal (NCLT), Hyderabad Bench, passed an order rejecting the…
- **2017-01-01 — Appeal F…**: Ameya Laboratories Ltd filed an appeal before the National Company Law Appellate Tribunal…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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