# In the matter of Satish Kumar Narula Vs Healthians Research Centre Private Limited

> NCLAT judgment dated 2024-08-05. Citation: TCN-2024-NCLAT-00281. The case involves an appeal against the application Section 9 filed by the corporate debtor.…

- **Court:** NCLAT
- **Order date:** 5 Aug 2024
- **Citation:** TCN-2024-NCLAT-00281
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/satish-kumar-narula-vs-healthians-research-centre-private-limited-1e41fe37

## Summary

### Background

The case involves an appeal against the application Section 9 filed by the corporate debtor. The appellant contends that the corporate debtor is a sister concern of Vimhans Nayati, with whom a service agreement and closure agreement were entered with the operational creditor. The appellant also argues that there is no operational debt payable by the corporate debtor and that dishonored checks do not constitute an operational debt.

## Facts

The appellant, Satish Kumar Narula, filed an appeal against Healthians Research Centre Pvt. Ltd., the corporate debtor. The appellant claims that the corporate debtor is a sister concern of Vimhans Nayati, with whom a service agreement and closure agreement were entered. The appellant argues that there is no operational debt payable and that dishonored checks do not constitute operational debt. The respondent contends that Nayati and Vimhans Nayati are the same entity and that payment has been made via RTGS under the closure agreement. The CoC has already been constituted. The application was filed under Section 9.

## Issues and analysis

### Issue 1: Whether the corporate debtor is a …

**Ratio:** The principle of corporate veil piercing may be relevant if the corporate debtor is found

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**Reasoning:** The court needs to determine if the corporate debtor and Vimhans Nayati are effectively

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**Interpretation:** The interpretation of 'sister concern' and the extent of control and management

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**Application:** If the court finds substantial overlap and control, it may treat the two

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Satish Kumar…
- **Respondents:** Healthians…
- **Advocates:** Abhijeet…; Giriraj Subramaniu…; +7 more

## Timeline

- **2021-07-30 — CoC Consti…**: CoC has already been…
- **2024-05-08 — Hearing…**: Ld. Counsel for the appellant submits that the Part-4 of the application Section 9 which…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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